Rolled over a 401 to an ira. On form 1099 r box 2a states taxable income is 0.00
Box 7 distribution code is G. This entry remains as income in turbo tax and causing
an increase in income and taxes. It was not rolled over to a Roth IRA. How can this entry
be removed from total income.
patrick coughlin
If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 form and make sure it's right. Check 1040 line 5b. It should be zero with the word Rollover by it.
Look at your federal tax return, Form 1040 Line 5b. There should be the word ROLLOVER entered and an amount of 0 entered on Line 5b indicating there was no taxable income entered on your return for this rollover.
If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 form and make sure it's right. Check 1040 line 5b. It should be zero with the word Rollover by it.