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anjan10
Level 2
February 22, 2022
Question

Why 1099-R shows amount on box 2a as taxable income? as I have roll over all money to another custodian. (Spouse death - work distribution to my name) ?

  • February 22, 2022
  • 5 replies
  • 25 views
Spouse passed away in 2021 - I was beneficiary for her profit sharing, (stock) requested to transfer to me all and I roll over to another custodian.  her work HR issued 1099-B and 1099-R,  since I have roll over all money why 1099-R shows some taxable amount?

5 replies

HelenC12
Level 15
February 22, 2022

Even though the 1099-R shows the amount as taxable, after you enter your 1099-R, the follow up screens will allow you to enter the monies as a Rollover making them not taxable. In the interim, you may see your tax refund go down or the amount due go up. Don't worry. Once it's entered as a Rollover, TurboTax will remove the taxes and you refund or amount due will be correct.

 

I'm so sorry for your loss.

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    anjan10Author
    Level 2
    February 22, 2022

    Thank you, HelenC12.. 

    Thank you for the condolence. 

     

    One more question> Do I have to report 1099-B along with 1099-R ?

     

     

    PattiF
    Level 15
    February 23, 2022

    Yes, you do have to report the 1099-B.

     

    This TurboTax help article has instructions to enter the 1099-B.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
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