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New Member
posted Oct 11, 2024 7:39:23 PM

How to make a 1099-R basis adjustment within TurboTax? All distribution was rolled into a qualifying plan, but TurboTax is showing my basis as $0. It won't let me change.

Looking for info on how to manually override this within TurboTax, it is showing a 110k rollover as Pennsylvania income and saying I owe.

0 8 20293
8 Replies
Level 15
Oct 11, 2024 11:39:16 PM

Level 15
Oct 12, 2024 6:27:53 AM

I don't have an answer.

Level 15
Oct 12, 2024 6:30:07 AM
Level 15
Oct 13, 2024 9:02:39 AM

If you use Code "G" on a 1099-R, the state program should not tax your rollover.

 

@andrew0072 

New Member
Oct 13, 2024 3:19:39 PM

I used code G, per the 1099, and it's taxing it at the state level. The message I received within TurboTax said I needed to adjust the basis.

Level 15
Oct 13, 2024 6:25:30 PM

File your Federal 1040 only.

Delete the 1099-R code G before filing state tax return.

 

@andrew0072 

New Member
Oct 14, 2024 10:13:01 AM

Ok, thanks for the advice. If I file 1040 and then delete code G, will is ask me if it's a rollover at the state level at that point to remove the taxable income?

Level 15
Oct 14, 2024 12:06:23 PM

To be clear , delete the entire 1099-R from list of documents, not just the code.

@andrew0072