I need to report my 401K pretax rollover to a Roth IRA as income. How do I do this in turbotax. I answered yes to "did you roll this into a Roth" and it is still not taxing it.
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What code is in box 7 on the 1099R? Did you get two 1099R, 1 from the 401K and one from the IRA? It may be a rollover from the 401K to the IRA and then a conversion from the IRA to the ROTH IRA.
Distribution code is G. No additional 1099R received.
What's weird is that I went back and checked the IRA/SEP/Simple box on the 1099R input and I got a turbo tax message saying "are you sure, you said you rolled over your traditional 401k to a roth" so it knows that's what I did, but it still isn't taxing it. It is also in line 5 on1040 instead of line 4
For a rollover from a pre-tax 401(k) to a Roth IRA, the taxable amount should be present in box 2a of the Form 1099-R. If box 2a of the form provided by the payer is zero or blank, the payer is reporting it as rollover to a traditional IRA, not to a Roth IRA.
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