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Level 2

Solved

I am on investing with an IRA and am stuck. I received a 401K distribution in Dec 2016 and immediately rolled it into a Roth IRA. How do I add this?

Forum|Forum|7 years ago
June 1, 2019
4 replies
38 views

I did add my distribution from my 1099-R form.

TurboTax Deluxe Online

Best answer by dmertz

It seems that this Form 1099-R is reporting a nontaxable direct rollover to a traditional IRA, not a taxable rollover to a Roth IRA.

You'll need to contact the 401(k) plan administrator to see if they will correct the form to show the taxable amount in box 2a. However, if you had not requested that the plan administrator initiate a rollover to Roth IRA but had requested a rollover to a traditional IRA instead, the plan is unlikely to correct the form since they acted as requested. If the plan administrator refuses to correct the form, you'll need to prepare a substitute Form 1099-R showing the taxable amount in box 2a the amount from box 1 (minus any amount in box 5).

Level 15

What is the code in box 7 of the Form 1099-R?
Is the amount in box 2a nonzero, perhaps equal to the amount in box 1?

Level 2

Box 7 is G, and box 2a is $0.00. Thanks.

dmertzAnswer

Level 15

It seems that this Form 1099-R is reporting a nontaxable direct rollover to a traditional IRA, not a taxable rollover to a Roth IRA.

You'll need to contact the 401(k) plan administrator to see if they will correct the form to show the taxable amount in box 2a. However, if you had not requested that the plan administrator initiate a rollover to Roth IRA but had requested a rollover to a traditional IRA instead, the plan is unlikely to correct the form since they acted as requested. If the plan administrator refuses to correct the form, you'll need to prepare a substitute Form 1099-R showing the taxable amount in box 2a the amount from box 1 (minus any amount in box 5).

Level 2

Thank you for your time and information, I appreciate it.