Hi AnnetteB6,
I think my IRA rollover was actually a direct rollover. Here's more info.
1099-R form for my 401k rollover is filled out like the following:
1. has the full amount of 401K
2a. 0.00
2b. blank
3. 0.00
4. 0.00
5. 0.00
6. 0.00
7. G
IRA/SEP/Simple blank
Fidelity, the administrator for my previous employer's 401K, sent the check to me. The check read:
Pay to the order of: Minn Life TR IRA. Within 2 weeks, I sent the check, Minn Life received the check and my new IRA was opened. I received a paper from the Minn Life administrator stating Transaction Activity, Date, Rollover, plan type Individual Retirement Annuity, the amount of the check from Fidelity.
When I entered the 1099-R form info into TurboTax Premier, I do not get a question asking what I did with the money. I thought the "G" means a direct rollover from one IRA to another. The rollover has increased my income to 3 times my usual yearly income. I wonder if that increase is responsible for the government now wanting me to make quarterly estimated payments.
