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dchankins
Returning Member

401k Rollover-Percentage of Total Distribution

Completely emptied my 401k to rollover to an IRA.  My Form 1099-R states my percentage of total distribution is 0.0%; however, TurboTax will not accept 0.0% and requires me to enter and amount between .01% - 100%.   Can someone please explain what should be entered?   Many thanks!

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3 Replies
AmyC
Expert Alumni

401k Rollover-Percentage of Total Distribution

Let's get the big picture straight. If you can you answer yes to these questions:

Box 1 and box 2, matching numbers since full amount rolled over?

Box 7 has a code G or H or other tax exempt code for the rollover?

 

then don't bother with the box and percentage on the 1099R. 

 

If you answered no, what do you have?

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dchankins
Returning Member

401k Rollover-Percentage of Total Distribution

Box 1 shows the gross distribution.  Box 2a shows $0.00 as the Taxable Amount.  Box 2b has an "X" in the box for Total Distribution.  Box 7 does show code G.  Box 9a shows 0% for Your Percentage of Total Distribution.

dmertz
Level 15

401k Rollover-Percentage of Total Distribution

Leave box 9a blank.  The percentage entry is only used when a distribution is made to multiple beneficiaries.

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