- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I enter 401k rollover to Roth IRA into TurboTax Home & Business 2018?
I did a rollover from a 401k to a Roth IRA between 2 different companies. The 1099-R has $0.00 in 2a Taxable amount. The company that issued the 1099-R (401k administrator) insists it is correct. The Roth IRA company insists that they only need to submit a Form 5498. I know this is a taxable event and seems to work if I just enter the value from the 1099-R, box 1 into box 2a, but that's not how it's listed. How do I enter this into TurboTax Home & Business 2018?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
When you enter the 1099R, TurboTax will ask if rolled into a Roth account and you will answer "yes: and that "all" is rolled over to Roth and them it will be taxable event if coming from a Traditional (non-Roth) 401K.
To enter pension and annuity Payments (1099-R)
• Click on Federal Taxes
• Click on Wages and Income
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button