Why is my Roth ira distribution showing as a Pension and annuity distribution? (EDIT: It was actually not a roth ira but a roth 401k)

[cayde6]

I entered my 1099R exactly as it appears but turbo tax puts it in as a pension and annuity distribution NOT as a Roth IRA distribution. It was a full distribution of a Roth IRA account I opened in 2020. Code from box 7 is 1B

Is this going to be a problem if I can't fix it?

I do qualify for no interest due to covid financial impact but it doesn't matter wether I put in the tax forgiveness or not, the distribution still shows as a pension and annuity distribution in the tax forms.

See pic for screenshot.

Thanks for any and all help!

EDIT: see answers for clarification of what happened. I incorrectly thought this was a roth ira but it was not. Turbotax software handled the information correctly since I entered the correct code of 1B

[VolvoGirl]

Check if there is a little checkbox for IRA between boxes 7&8 on the 1099R.  

[cayde6]

No mark there, which I read is correct since it's a Roth IRA

[VolvoGirl]

Then ask the plan if the IRA box is not checked.  Are you sure it is a IRA and not a 401K or something else?

[cayde6]

I appreciate the help. I am 100% sure it's a roth IRA. And it clearly says on the form 1099r instructions, there should be no markings in that box for a roth ira

[VolvoGirl]

Where does it say that?  A ROTH IRA is still an IRA.

[VolvoGirl]

@dmertz  why do the Instructions say the check box is only for Traditional IRA and not ROTH?  

[cayde6]

Good point, I searched for where I read that and I found this on the IRS website "It is not necessary to mark the IRA/SEP/SIMPLE checkbox (for Roth)"

I am going call the company when they open and see if they're ok with me checking that box. 

Thanks again, I've been working on this for hours and need some Zzzz's

[cayde6]

I found where it says not for Roth, on turbotax help tab on that page. I'm still going to call and see if I can check it to fix things. 

[dmertz]

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@VolvoGirl wrote:

@dmertz  why do the Instructions say the check box is only for Traditional IRA and not ROTH?  

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A code J, T or Q in box 7 identifies the distribution as a Roth IRA distribution without the need to mark the IRA/SEP/SIMPLE box.  The IRA/SEP/SIMPLE box is needed only to distinguish between IRA and non-IRA traditional retirement accounts.

[VolvoGirl]

@dmertz  Can you help the op?  Did you read the whole thread?  His code is 1B.  So should his 1099R ROTH IRA be on line 5 and not 4?

[dmertz · Accepted solution]

Code 1B indicates a distribution from a Roth 401(k), Roth 403(b), Roth 457(b) or Roth federal TSP and is reportable on line 5.  It is not a Roth IRA distribution and is not reportable on line 4.

[VolvoGirl · Accepted solution]

That confirms what I thought and asked early on.  @cayde6  Double check with the plan custodian/trustee to see what kind of account you have.  If it is from your job it is not a IRA.

[cayde6]

Yup you two are absolutely right @VolvoGirl  and @dmertz   

For some reason I was locked into thinking that Roth account meant Roth IRA. But in reality the account was a Roth 401k (or something like that).

TurboTax handled the information correctly and it is where it should be. 

Hopefully, I can finish up my taxes tonight. If I can't, it won't be because of this.

Special thanks to @VolvoGirl who kept helping me after I insisted this was a Roth IRA!