Do I enter both 1099-Rs from when I rolled over 401k to traditional IRA then converted to ROTH IRA? Showing $7000 in withdrawals but it's all the same money moved around?

[Flymom3]

Rolled $3500 401k from company A to a traditional IRA at company B when I left my employer. Then converted the traditional IRA to a ROTH IRA within company B. I have a 1099-R from both company A and company B. I entered both, but now it looks like I received $7000 in distributions. The ROTH conversion is the only one showing a taxable amount, but am I supposed to enter both forms?

[VolvoGirl · Accepted solution]

Yes.  The first one should be code G and not taxable.  It will say ROLLOVER by line 16b.  

[VolvoGirl]

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.   For 1099R check 1040 line 15b or 16b for any taxable amount.  If it was a rollover it should say ROLLOVER by the “b” line. (1040A lines 11b & 12b)