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How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

I had made after-tax contributions to my fidelity 401K account. After about a year, I rolled over the after-tax contributions to my Roth IRA account ("mega backdoor Roth IRA"), and the investment gains on those contributions to a regular IRA (to defer paying taxes on them). 

I am unable to figure out how to enter this information through the 1099-R section on turbotax online. It doesn't seem to support an option for indicating that part of the rollover is non-taxable (the Roth IRA portion) and part is tax deferred (regular IRA portion). 

Thanks.

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1 Best answer

Accepted Solutions
dmertz
Level 15

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

You must split the code G Form 1099-R into two, one for the after-tax portion (which will include the box 5 entry) rolled over to the Roth IRA and another for the pre-tax portion rolled over to the traditional IRA.  The dollar amounts on these two Forms 1099-R must total to match the original.  The rest of the information on the original Form 1099-R will be duplicated on both of the entered Forms 1099-R.

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6 Replies
DanaB
Expert Alumni

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

What was the code in box 7?

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

'G'
dmertz
Level 15

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

You must split the code G Form 1099-R into two, one for the after-tax portion (which will include the box 5 entry) rolled over to the Roth IRA and another for the pre-tax portion rolled over to the traditional IRA.  The dollar amounts on these two Forms 1099-R must total to match the original.  The rest of the information on the original Form 1099-R will be duplicated on both of the entered Forms 1099-R.

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

Thanks very much. Your suggestion makes total sense. I was able to enter the information in Turbotax and the return forms look good!

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

I am confused as to how to enter this into TurboTax.  Where can I find step-by-step directions?

DanaB27
Employee Tax Expert

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

Please follow these steps to split you Form 1099-R:

 

  1. Click on "Search" on the top right and type “1099-R” 
  2. Click on “Jump to 1099-R”
  3. Enter the first 1099-R for the rollover into the traditional IRA:
    1. Box 1 Enter amount send to traditional IRA
    2. Box 5 blank
  4. On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
  5. On the "Did you move the money to a Roth IRA?" screen answer "No"
  6. Enter a second 1099-R for the conversion to Roth IRA:
    1. Box 1 Enter amount send to Roth IRA
    2. Box 5 enter amount listed on Form 1099-R
  7. On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
  8. On the "Did you move the money to a Roth IRA?" screen answer "Yes"

 

 

@GiancarloJulie 

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