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June 1, 2019
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Two 1099-Rs. One from 401K to traditional IRA and second converted that traditional IRA to a Roth IRA. Both are counted as total income?

  • June 1, 2019
  • 1 reply
  • 29 views
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Both 1099-Rs may appear as "total income" in the income summary section, which is not necessarily your taxable income.

If you entered the correct distribution codes ("G" for the first one, hopefully), then one should included in your taxable income.

You can verify this in My Account (top menu) >Tools > View Tax Summary > Preview My 1040

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Answer
June 1, 2019

Both 1099-Rs may appear as "total income" in the income summary section, which is not necessarily your taxable income.

If you entered the correct distribution codes ("G" for the first one, hopefully), then one should included in your taxable income.

You can verify this in My Account (top menu) >Tools > View Tax Summary > Preview My 1040