How do I enter 401k rollover to Roth IRA into TurboTax Home & Business 2018?
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tlinderman
New Member

How do I enter 401k rollover to Roth IRA into TurboTax Home & Business 2018?

I did a rollover from a 401k to a Roth IRA between 2 different companies. The 1099-R has $0.00 in 2a Taxable amount. The company that issued the 1099-R (401k administrator) insists it is correct. The Roth IRA company insists that they only need to submit a Form 5498. I know this is a taxable event and seems to work if I just enter the value from the 1099-R, box 1 into box 2a, but that's not how it's listed. How do I enter this into TurboTax Home & Business 2018?

1 Reply
MichaelL1
Level 15

How do I enter 401k rollover to Roth IRA into TurboTax Home & Business 2018?

When you enter the 1099R, TurboTax will ask if rolled into a Roth account and you will answer "yes: and that "all" is rolled over to Roth and them it will be taxable event if coming from a Traditional (non-Roth) 401K.

To enter pension and annuity Payments (1099-R)
•    Click on Federal Taxes
•    Click on Wages and Income
•    Click on I'll choose what I work on (if shown)
•    Scroll down to Retirement Plans and Social Security
•    On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button



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