Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Jan 30, 2021 8:19:25 PM

457 Rollover 1099-R

I had one In Plan Roth Rollover of 457 in 2020 and received the 1099-R. How do I answer the question “Is this 1099-R reporting a rollover of funds from a 401(k), 403(b) or governmental 457(b) plan to a designated Roth 401(k) or Roth 403(b) plan?” The answers are “Yes, this money rolled over to a designated Roth 401(k) or 403(b) account.” and “No, this money didn’t roll over to a designated Roth 401(k) or 403(b) account.”

 

Initially I thought the answer would be “No” because I had the In Plan Rollover of 457, not to either Roth 401(k) or 403(b), however, the answer “No” didn’t change the Federal or State tax due. When I chose “Yes”, it changed the Federal or State tax due. Should I answer “Yes”? Thank you. 

0 1 1886
1 Best answer
Level 15
Jan 31, 2021 6:01:06 AM

Answer “Yes, this money rolled over to a designated Roth 401(k) or 403(b) account.”  TurboTax developers mistakenly omitted 457(b) and the federal TSP from the account types listed.

1 Replies
Level 15
Jan 31, 2021 6:01:06 AM

Answer “Yes, this money rolled over to a designated Roth 401(k) or 403(b) account.”  TurboTax developers mistakenly omitted 457(b) and the federal TSP from the account types listed.