1099-R with job change

[mazzy714]

My husband changed jobs on 2016.  We received 1099-R  that shows rollover with  the distribution code as "G".  The program then reports this as nontaxable and yet  still reports this rollover amount as income. Then we don't qualify for the homestead property tax credit for the state because our "income exceeds the maximum allowed to qualify for the credit".  Is this correct that the rollover amount still be a part of our 2016 income, even tho we never have touched this money?

[macuser_22 · Accepted solution]

It will show as income on the summary screen which shows gross income, not taxable income.

The income will be reported on line 16a on the 1040 form  with the word “ROLLOVER” next to it .

The taxable amount will go on line 16b.  In the case of a rollover, that amount will be zero.

lines  12a/b if 1040A form

[mazzy714]

Thank you!  I have been able to figure this out with your assistance!