I transfered an IRA from one company to another. I received a 1099R and entered the amount in TurboTax. It shows up in my total income even though it is a non-taxable event. Will this apparent increase in total income affect the amount that I pay for medicare? If so, should I just remove it from the Fed Tax Return since it is a non-taxable rollover?
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No. Because it does not appear in your AGI, it won't affect the amount your pay for Medicare.
You must report the Form 1099-R and the rollover, otherwise the IRS may treat it as taxable income
No. Because it does not appear in your AGI, it won't affect the amount your pay for Medicare.
You must report the Form 1099-R and the rollover, otherwise the IRS may treat it as taxable income
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