Many 1099-R issuers leave off boxes that do not apply - the TurboTax form has all boxes. Leave them blank if not on your form.
Enter a 1099-R here:
Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.
Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.
[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]
Does Box 2a actually have a zero in it, or is it blank?
Your 1099-R doesn't look like this?
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f1099r.pdf">https://www.irs.gov/pub/irs-pdf/f1099r.pdf</a>
If your 1099R doesn't have those boxes then you have to answer that they are Blank. They aren't there so they have to be blank. Can't check something that isn't there.
Box 2a has a zero. Correct. My form does not look like the one you are showing.
A 401(k) is not an IRA so the IRA/SEP/SIMPLE box is not needed - leave it blank. A direct 401(k) rollover with a zero in box 2a will probably also have a code "G" in box 7. The box 5 being the same as box 1 indicates that this is after-tax basis that is being rolled into a Traditional IRA. You will want to keep track of that basis so that when you take a distribution from the IRA you can enter any existing after-tax basis already in the Traditional IRA and add this basis to it. The total after-tax basis will prorate the taxable amount of the distribution over the total value of the IRA and report that on a 8606 form. There will be an explanation as what the basis is being adjusted - say that it is after-tax 401(k) contributions that was rolled into the IRA.
It is not necessary to send a 8606 until you take a distribution from the IRA even if that is years in the future - so just keep track of it. I would keep the 1099-R's with the tax return forever so you have proof of the rollover and basis.
I am assuming that you have a 2nd 1099-R that rolled over the remainder of the 401(k) that is the same but nothing in box 5, which would be the before-tax money. 401(k) rollovers that contain both before-tax and after-tax money are often done on separate 1099-R's.
The reporting of this portion of the distribution might have been separated out so that it could be separately reported as having been rolled over to a Roth IRA instead of to a traditional IRA, if that's what was done. If this portion was rolled over to a traditional IRA, macuser_22's comment above applies. If it was instead rolled over to a Roth IRA, indicate that in the follow-up.
This was described as the after tax amount of the 401(k) distribution. It was deposited into our money market account and not rolled over to Roth. Yes, we did get 2 1099R forms. The much larger portion was rolled over to an IRA, has a G code in box 7, zero in 2a and box 5. There was no G code in box 7 for the smaller 1099R amount, just code 7. Neither form has the box in question, so for Turbo Tax, I think I should just answer no for both for both 1099s. Thanks to all for your help.
You don't answer no, you just do not check that box. The 1099-R with the G will automatically be a rollover when you enter it. Assuming that you also rollover the one with the 7 within 60 days from the distribution, and not just take the cash, then when the interview asks what you did with the money, you say that you moved it to another account and then that you rolled it over. If you did not roll it over the just say that you cashed it out.
But later in the 1099R interview I think it does ask you if that box is checked. Just to double check. You say NO there.
Turbo Tax first asks to check a box which I left blank, then it asks a Yes or No question that I should answer No. Don't know what else I can do since my 1099R does not have the IRA/SEP/SIMPLE box on the form.
Many 1099-R issuers leave off boxes that do not apply - the TurboTax form has all boxes. Leave them blank if not on your form.
Enter a 1099-R here:
Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.
Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.
[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]