1099-R Distribution, Rollover, and Roth Conversion

[jay_hamo]

Hi, I had a question about entering my 1099-R distributions:

I rolled over my entire employer based 403B into a rollover IRA and then converted that entire amount into a Roth IRA. This generated two 1099-Rs with distribution codes 2 and G. Ultimately this is the same money but converting to the Roth IRA is a taxable event so do I need to enter both 1099-Rs into my tax return or can I just include the Roth one since only this one requires me to pay taxes. The taxable amount on the rollover portion is zero. It seems redundant to enter both and the software flags it when the taxable amount is entered as "0". Appreciate the help!

[macuser_22]

Yes you  must enter them both.

A code G, when entered correctly, will not produce any error.  It is a rollover, but must be reported in your 1040 form line 5a.

Your 1099-R for the conversion will go on line 4a and the taxable amount on 4b.

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

[jay_hamo]

Got it, thank you for the help!