- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why is my 401(k) roll-over counted as a distribution?
When I add my 1099-R, TT adjusts my total (as well as taxable) income by 150% of the roll-over amount.
My 1099-R is showing a "G" in Box 7 and boxes 1 and 2a are identical values; i.e. the roll-over should be taxable but at my regular tax rate and not penalized by 50%. The roll-over was from an employer-sponsored 401(k) to a Roth IRA that I opened myself.
Topics:
‎June 6, 2019
4:04 AM