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vetpref
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I rolled over my government TSP but it is showing as income. How do I remove it as income?

 
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I rolled over my government TSP but it is showing as income. How do I remove it as income?

Careful..some summary screens how the total entered, and do not indicate that it was rolled over into an IRA

Look at your actual 1040 preview...and see if the $ showed up on line 4b.

IF you made an indirect rollover to an IRS, and didn't make up the taxes withheld, the part of it is taxable...or if you rolled into a ROTH IRA, then much of it is taxable.

If line 4b on the form 1040 is way wrong...EDIT that 1099-R again, and carefully go thru the followup questions again that asks about what you did with the distribution...

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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1 Reply

I rolled over my government TSP but it is showing as income. How do I remove it as income?

Careful..some summary screens how the total entered, and do not indicate that it was rolled over into an IRA

Look at your actual 1040 preview...and see if the $ showed up on line 4b.

IF you made an indirect rollover to an IRS, and didn't make up the taxes withheld, the part of it is taxable...or if you rolled into a ROTH IRA, then much of it is taxable.

If line 4b on the form 1040 is way wrong...EDIT that 1099-R again, and carefully go thru the followup questions again that asks about what you did with the distribution...

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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