dmertz
Level 15

Retirement tax questions

Because you did this in a two-step process with a traditional IRA in the middle, you have $24k of gross income of which only $12k is taxable.  The code G Form 1099-R with a zero in box 2a for the direct rollover from the 401(k) to the traditional IRA is not taxable.  TurboTax's income summary shows both taxable and non taxable income.

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