1099-R. Distrib went from 401k 2 an IRA but only option IC is if distrib went to ROTH IRA or not. Answered no yet my income jumped WAY up. It went 2A IRA..how 2 fix?

[GV]

I see no place to tell TT that my 401k money went to a qualified IRA plan. It only asked if it went to a ROTH IRA....what am I missing?

[dmertz · Accepted solution]

You aren't missing anything.  Simply answer No to moving the money to an Roth 401(k) and No to moving the money to a Roth IRA.  TurboTax will then know that the rollover is not taxable.  However, it is income, even though it is nontaxable income, so it appears on TurboTax's income summary.  Nontaxable income has no effect on your AGI or tax liability.

[GV]

Excellent. Thank you very much. Now if I could only find out where to enter in info on a ROTH I cashed out? Does that count as income as well as far as TT is concerned. I waited after 5 years & met other req's

[dmertz]

The gross amount of a distribution from a Roth account will similarly be show as income in the summary, but only the taxable amount, if any will be included in taxable income on Form 1040 line 4b.  Just as with the rollover, enter the Form 1099-R, answer the follow-up questions, click the Continue button on the Your 1099-R Entries page and answer the additional follow-up questions.

[GV]

Great explanation, thank you !