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1099R - My rollover from 401k to traditional IRA says Ill be hit with penalties
Hi - I added my 1099R to my turbo tax account, rolling over $5600 from a 401k to a traditional IRA but it's saying I contributed $400 more than Im allowed to in one year to a traditional IRA. Since it's a rollover it shouldnt count towards the yearly amount Im allowed to add to my IRA, right? Not sure why when I finished filing it said Ill be hit with a $26 fee every year.
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‎June 6, 2019
6:29 AM