Re: My 1099-R has been categorized wrong and taxes are being withheld for a direct rollover, how ...

My 1099-R has been categorized wrong and taxes are being withheld for a direct rollover, how do I correct this?

posted

Are you saying you are being taxed on a direct rollover? If so, a data entry error may have caused this. When you review your entries, please pay special attention to Box 7 of your 1099-R. A direct rollover should be coded as "G" or "H".

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Backdoor Roth IRA 2024 - Turbotax is taxing the entire amount of the conversion (which is incorrect - the conversion amount is the same amount as the basis from the non-deductible IRA that I am converting to Roth.

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My 1099-R has been categorized wrong and taxes are being withheld for a direct rollover, how do I correct this?

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