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One 1099-r for rollovers of pre-tax $ from 401k to Roth and traditional IRA's

I processed three direct rollovers of pre-tax funds from a 401k (one being a taxable conversion to a Roth IRA; and two being tax deferred rollovers to a traditional IRA).  All three rollovers are reported on one 1099-r coded "G", and only a portion of the Gross Distribution (the amount converted to the Roth IRA) is reported as taxable.  It appears TurboTax does not allow an option for reporting only part of the total as taxable, as there are only 2 permitted entries indicating either that all or none of the funds were rolled over to a Roth IRA.  How do I proceed?

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2 Replies
SamS1
Expert Alumni

One 1099-r for rollovers of pre-tax $ from 401k to Roth and traditional IRA's

Split the original 1099R into 2 1099Rs and enter them separately in TurboTax..  One will be for the conventional rollovers and the other for the Roth rollover.  Just make sure the total of the boxes on the two 1099Rs equals the boxes on the original 1099R you received so to not cause any matching problems with the IRS.

 

 

One 1099-r for rollovers of pre-tax $ from 401k to Roth and traditional IRA's

Thank you!

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