I rolled over a traditional 401k from my previous employer into a Roth IRA account and was not charged for the taxes on the rollover. On my 1099-R from the 2B(Taxable amount not determined) is not checked and box 2a is at $0. Box 7 has the distribution code G (Direct rollover and direct payment). I know I need to pay income tax on that amount to convert it to a Roth account but I don't know how to see that Turbotax calculates that properly and how to fix the situation. Do I need to fix this situation with the sender or receiver?
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Are you sure that it is in a Roth and not a Traditional IRA?
You should discuss this with the 401(K) administrator if they directed it to go to the wrong type of IRA.
However, It is doubtful that they will change it, but you need to talk with them anyway just to tell the IRS that you attempted to get them to correct it.
Are you sure that it is in a Roth and not a Traditional IRA?
You should discuss this with the 401(K) administrator if they directed it to go to the wrong type of IRA.
However, It is doubtful that they will change it, but you need to talk with them anyway just to tell the IRS that you attempted to get them to correct it.
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