The 1099-Rs are for: pension (taxed), withdrawal from 401(k) (taxed), 401(k) rollover to traditional IRA; Roth withdrawal from 401(k) that I rolled over; qualified after-tax savings and interest that I rolled over into outside Roth IRA (interest was taxed). The Box 7 codes are correct. The 1099-R summary is not inputting the amounts in Traditional, Roth, etc. instead it is lumping the amount into taxable and non-taxable which are incorrect and I cannot alter this worksheet.
I know the IRS does not receive the worksheets, calculations, etc. but the output is incorrect and my records will be incorrect as well. I have been struggling for days and can't get them to post correctly. Can someone please help me?
restart by deleting all your 1099-Rs
then enter each one at a time. make sure it is correctly entered before moving on to the next one. you can start with the Roth.
how else could you do it?
There are some issues with Line 4a that may or may not affect your situation.
restart by deleting all your 1099-Rs
then enter each one at a time. make sure it is correctly entered before moving on to the next one. you can start with the Roth.
how else could you do it?
There are some issues with Line 4a that may or may not affect your situation.
Thanks very much for your suggestion. I have re-entered and even split one that had both taxable and non-taxable to insure the information is correct.
It will show as income on the summary screen which shows gross income, not taxable income.
The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.
The income will be reported on line 4a and 4b on the 1040 form with the word “ROLLOVER” next to it if it was a rollover.
The taxable amount will go on the 1040 line 4b. In the case of a rollover, nothing goes on 4b.