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Sharmon
Returning Member

Pretax 401(k) direct rollover to a Roth IRA

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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4 Replies

Pretax 401(k) direct rollover to a Roth IRA

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.   

Sharmon
Returning Member

Pretax 401(k) direct rollover to a Roth IRA

Distribution code is G.  No additional 1099R received.

Sharmon
Returning Member

Pretax 401(k) direct rollover to a Roth IRA

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

 

dmertz
Level 15

Pretax 401(k) direct rollover to a Roth IRA

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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