1099-R for 401K to Roth Ira

Hi, I recently left a job and had my 401k rolled over to my Roth IRA. When I got my 1099R, it has the full amount listed in the Gross Distribution, Total distribution box checked, and code G. and nothing else. I know something is wrong here because I expected to pay taxes on the full amount since it went into my Roth. What else is supposed to be checked / entered on my 1099R?

1629

Expert Alumni

Jan 27, 2025 2:22:24 PM

The form 1099-R is correct with code G in box 7. You have to indicate in the TurboTax interview that the rollover was to a Roth IRA. The amount will then be taxable.

Enter your form 1099-R by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Wages & Income
Navigate to the list of income categories
Locate the section Retirement Plans and Social Security and click on the arrow on the right
Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
Enter your form 1099-R and follow the interview
When you arrive to the page Did you move the money to a Roth IRA?, click on the radio button Yes, this money was rolled over to a Roth IRA and Click Continue

Level 1

Jan 27, 2025 2:35:49 PM

Thank you. I had entered the 1099-R and answered all the questions, yet my Fed Tax due did not increase. I just deleted the form, re-entered it, and it looks like it is working now. Thank you for your help.

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1099-R for 401K to Roth Ira