1. I've filled in all other items in my return and TT estimates over $750 return due back from Uncle Sam.
2. I enter my 401(k) rollover details from 1099-R (from 401(k) into traditional IRA per code "G" in box 7) with no change to estimated return, which is expected since rolling over from 401(k) to IRA is not a taxable event. Rollover completed before the end of CY2019.
3. I enter the value of my new rollover traditional IRA as of 12/31/2019 per my brokerage statement in "Tell us the value of your traditional IRA" and return immediately turns into >$400 OWED to Uncle Sam. The new rollover completed prior to 12/31 and it is my only traditional IRA.
>> Why does my balance due flip >$1,100 in Uncle Sam's favor? Traditional 401(k) rollover into traditional IRA after changing employers (my case) is not a taxable event. If I had not performed the rollover, the same balance would exist within my 401(k) and would have zero impact within TT. What am a I missing here?
