1099r for 401k rollover distribution

[mskl1965]

All is well.  Thank you

[ketanp44]

I am in exactly similar situation as mskl1965. My wife received 1099-R since she rolled over her previous employer's 401K to an Individual IRA in 2016.
Here are some 1099-R form details: There is amount in box 1, No amount in 2a (it is zero), Total distribution box is checked in 2b, No amount in 4 (it is zero)  and Distribution code is G in box 7.  

When I entered all the correct details in Turbotax and then reviewed form 1040, I saw that there was nothing in 15a or 15b. The gross distribution amount was written in 16a and ROLLOVER was written in 16b.

My questions are:
(1) Can you please confirm that I am not being taxed on the gross distribution amount? It shows under my 2016 income summary (under pensions) in Turbotax which is leading me to some confusion.
(2) Why is 16a filled and not 15a in form 1040 for my situation? Shouldn't it be the other way around since 16a seem to be for Pensions and Annuities? Why is my rollover amount being show in the item (16a) related to pension?

Thanks in advance for your help.

[VolvoGirl]

1.  Yes do not go by the income summary or review screens.  Those show the whole amount as income.  Go by your actual tax return.  

2.  It is on line 16 because it came from an employer's 401k account.  401k goes on the same line with pensions.  Only if the source was from a IRA  would it be on line 15.

[rick-grande]

Like others, I have a 1099-r for a transfer from my old 401K that my prior employer converted to an IRA and I then transferred that IRA to another financial institution.  Check was made out to the other financial institution.  total distribution is checked and H in box 7.   Turbo Tax is still showing it as a taxable liability.    I tried deleting and starting over without luck.  HELP!!

[ThomasM]

Just trying to duplicate your issue in the software.  For clarification, the code H means it's coming from a Roth and going into a Roth.  When you say your employer "converted" a 401k to an IRA, was that a regular 401k to a Roth IRA, a Roth 401k to a Roth IRA, or a regular 401k to a Traditional (regular) IRA?

[ThomasM]

Also, is there a figure in box 2a and is the box between 7 & 8 checked for IRA/SEP/SIMPLE?

[xzhang09]

Hi everyone, I am experiencing a similar issue with many of the TT users. I recently converted my 401k into my Roth IRA (as did my wife) and received our appropriate 1099 forms. However, when we tried to input this information the software, the program told us that our roth IRA contributions exceed our modified adjusted gross income, which is not correct. If anyone can provide assistance, that'd be wonderful!

Thank you,

-Tony

[macuser_22]

@xzhang09 - you are commenting on a year old post.  It would be better to ask a new question and start your own thread.

But as a quick answer - do NOT enter ANYTHING in the IRA contribution section.  A Roth *conversion* is not a contribution.

Enter the 1099-R  in the retirement section and answer the follow-up questions.  A 401(k) to Roth conversion is taxable.

If you have additional questions, we will be happy to answer, but please ask a NEW question and provide details.

I will close this year old thread.