I see no place to tell TT that my 401k money went to a qualified IRA plan. It only asked if it went to a ROTH IRA....what am I missing?
You'll need to sign in or create an account to connect with an expert.
You aren't missing anything. Simply answer No to moving the money to an Roth 401(k) and No to moving the money to a Roth IRA. TurboTax will then know that the rollover is not taxable. However, it is income, even though it is nontaxable income, so it appears on TurboTax's income summary. Nontaxable income has no effect on your AGI or tax liability.
You aren't missing anything. Simply answer No to moving the money to an Roth 401(k) and No to moving the money to a Roth IRA. TurboTax will then know that the rollover is not taxable. However, it is income, even though it is nontaxable income, so it appears on TurboTax's income summary. Nontaxable income has no effect on your AGI or tax liability.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
hartski1
New Member
Arches National Park
Level 3
embedded_guy
Level 3
pchurch
Level 2
wbrianb
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.