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posted Jun 6, 2019 4:21:09 AM

I reported a direct rollover from form 1099-R. The distribution code in box 7 is G with no additional boxes checked. My understanding is that these monies are not to be taxed if rolled over into another qualified plan yet Turbo Tax is showing an $ 11,000

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1 Replies
Level 15
Jun 6, 2019 4:21:11 AM

Most likely you're looking at the summary screen. That screen shows all money moved for any reason, in your name. That doesn't mean it's all taxable money. The summary shows *all* money.  On the 1040 itself you'll see the amount on line 15 or 16. Box a shows the amount, and box b shows the taxable amount. For the direct rollover the taxable amount will show zero in box b on the appropriate line.