I received and entered a 1099-R for a traditional IRA roll-over to another traditional IRA. When the 1099-R is entered I am only asked "Was this money rolled-over to a Roth IRA", so I answer "No"; then I am asked "Did I put this money in a HSA" and again I answer "no"; because neither happened.
I am never asked if I rolled-over the distribution to another "Traditional IRA" thus I am seeing an additional amount of income equal to the IRA distribution. Which should not be. In my 1099-R Line 7 shows "G" for "Direct Roll-over and Roll-over contribution".
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That is correct. A code G is always a rollover to a Traditional IRA unless it was rolled into a 401(k) Roth or Roth IRA. There is no need to ask about a Traditional IRA if it was not rolled into a Roth.
As follow-up, did the roll-over from traditional IRA to another traditional IRA still show up as income?
@creed77 wrote:
As follow-up, did the roll-over from traditional IRA to another traditional IRA still show up as income?
The gross (box 1) amount will show in the income summary screen. The 1040 line 4b taxable income should be zero with the word ROLLOVER next to it.
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