Roth 401k Rollover to my Roth IRA - Mistakenly rolled over the employer contributions into the ROTH and received a 1099-R with G code with a 15,000 taxable amount - what can i do?
When filling out the rollover sheet i selected entire account balance into ROTH IRA, unaware my employer contributions would effect this. I received two 1099-R from this rollover
1. My Contributions - Code H Taxable Amount $0
2. Employeer Contribitions - Code G Line 2A Taxable Amount $15,000
I reached out to the custodian, there is nothing they can do. I reached out to Vanguard, all they can do it move the money via Excess contributions into my IRA. How will this effect my 2024 tax bill, can classify in Turbo tax that this portion of the 401k rollover went into a traditional? As well as how will it effect my 2025?
I really thought my employers contributions were in my Roth 401k.
posted
last updated
March 11, 2025
2:50 PM