turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

afink1024
New Member

Have a 401 k that was rolled over into a regular Ira why is my return showing it as a filly taxable event ?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
MinhT1
Expert Alumni

Have a 401 k that was rolled over into a regular Ira why is my return showing it as a filly taxable event ?

A direct rollover from a 401(k) to a Traditional IRA is not taxable.

 

Please enter your form 1099-R in TurboTax, paying attention to the code in box 7 which must be G. Then follow the TurboTax interview and indicate that it is a rollover. TurboTax will exclude the rollover from taxation.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
dmertz
Level 15

Have a 401 k that was rolled over into a regular Ira why is my return showing it as a filly taxable event ?

First, confirm that TurboTax is treating it as taxable by seeing that it is being included on Form 1040 line 4d.  If it's appearing there:

 

What is the code in box 7 of the Form 1099-R provided by the payer?

Does the Form 1099-R show a nonzero taxable amount in box 2a?

Does the word ROLLOVER appear next to line 4d of Form 1040?

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question