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New Member

401K rollover to traditional IRA changed my refund

I filed my taxes early and forgot about a 401K direct rollover I had.  When I received the 1099R and entered the info and it changed my refund amount.  I've gone thru this several times and can't figure out what the problem is.  I don't see any questions for rolling over into a traditional IRA.  Headings are: 401(k) to Roth 401(k) and the next page is: Was this rolled over to a Roth IRA?  both of these are answered 'NO'.  Where is the info that this is rolled over into a traditional IRA?  Turbotax doesn't seem to be reading code 'G' for my 1099R since it is taxing me.  This is the only change i made on my taxes so it has to be this entry.  Please help!

2 Replies
Level 15

401K rollover to traditional IRA changed my refund

Is any amount shown in box 2a of the code G Form 1099-R provided by the payer?
Did you enter any Forms 1099-R reporting distributions or Roth conversions from a traditional IRA?
Returning Member

401K rollover to traditional IRA changed my refund

If you answer no to the 401(k) to Roth 401(k) rollover questions and have code G in box 7 then TurboTax will assume it was rolled over into a traditional IRA. 

Please be aware that the whole distribution will show as income on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), it should be 0 and have the words ROLLOVER next to it.

Please be aware that when you are working in the amendment, your refund meter resets to $0. Then, after you enter your information, if your amendment refund meter shows a green, positive amount, then you will receive that as an additional refund from the amendment. However, if it shows a gray amount due, then you will need to pay that when you mail your amendment. If this is the case, you can wait until your original refund arrives before paying the amount with amending.