Pension 1099 rolled over to Ira. Not taxed but is income?? Does it effect total tax income and taxes due?
You'll need to sign in or create an account to connect with an expert.
A direct rollover with a code G is not taxable if box 2a is zero. It should not add to the taxable amount on line 4b on the 1040 form.
The income summary screen will show it as income since it is income that must be reported, just not taxable income. The summary shows total income taxable or not.
A direct rollover with a code G is not taxable if box 2a is zero. It should not add to the taxable amount on line 4b on the 1040 form.
The income summary screen will show it as income since it is income that must be reported, just not taxable income. The summary shows total income taxable or not.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
poncho_mike
Level 4
GVZ
New Member
vaccartc3
New Member
Kaeric1
Level 1
csousa
New Member