401k and Roth Rollovers

[SF321]

I moved two 401k and one small Roth from previous employers in 2019, to my new employer 401k account.  All of the checks were addressed to the trust company handling the investment and nothing was "cashed out" with the checks being sent direct or forwarded to the new trustee.  I am running through my taxes and it is appearing I am being taxed on this as it is added to my income.  Am I doing something incorrect?  I was under the impression that if the disbursement check was not issued to me direct, and it was labeled as a rollover in the paperwork to do so, that this was not taxable..?

[DanaB27 · Accepted solution]

What code did the 1099-R have? 

Usually, after you enter the 1099-R TurboTax will ask follow-up questions. Please review them carefully.

Also be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), only amounts that were not rolled over or were converted will show here. 

1. Click on "Tax Tools" in the left menu
2. Click "Tools"
3. Click "View Tax Summary" in the Tool Center window
4. Click on "Preview my 1040" on the left

[SF321]

The distribution code for both 401k was G and the Roth was an H.  It looks like it is calculating correctly in the summary so I have some more digging to do...TY!

[SF321]

It appears through the summary that it is non taxable income as it is not totaling with mages.  I do however have an additional substantial amount under Other Taxes in the summary that I cannot seem to drill into to see where it is coming from...

[dmertz]

The code H Form 1099-R does not indicate a rollover to another employer's plan.  It indicates a rollover to a Roth IRA and a Roth IRA cannot be an employer plan.  If the rollover was to the designated Roth account in another employer's qualified retirement plan, you need to get a corrected Form 1099-R with codes B and G together in place of code H.

Note that this has nothing to do with the Other Taxes you may be seeing.  Make sure that you have not entered anything about these rollovers anywhere under Deductions & Credits.