I have a1099R box 1 $$$,$$$ The taxable amount box 2a is 0. box 7 code is G. This was a retirement transfer to Traditional IRA. Why is TT taxing it when I add it in?

caklive · ‎March 19, 2025

The form is loaded correctly in TT. I checked with financial advisor and they confirmed this distribution should not be taxed. It went from a retirement plan directly to a traditional IRA. We are both over 65 years of age.

ThomasM125 · ‎March 19, 2025

The distribution should not be taxable based on what you listed. First, check on your Form 1040, on line 4(b) or 5(b) to see if the distribution is showing as taxable there. If so, go back through your Form 1099-R entries and make sure you answered all the questions correctly. As a last resort, delete the Form 1099-R entry and re-enter it.

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I have a1099R box 1 $$$,$$$ The taxable amount box 2a is 0. box 7 code is G. This was a retirement transfer to Traditional IRA. Why is TT taxing it when I add it in?