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rdhatcher
Level 2

Received one 1099R for rollovers from 401(k) to both Traditional and Roth IRAs. Roth IRA portion was already taxed. How do I fill out the 1099R for each in TurboTax?

 
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dmertz
Level 15

Received one 1099R for rollovers from 401(k) to both Traditional and Roth IRAs. Roth IRA portion was already taxed. How do I fill out the 1099R for each in TurboTax?

You must split the Form 1099-R into two, one for the after-tax portion rolled over to the Roth IRA and the other for the pre-tax portion rolled over to the traditional IRA.  All boxes will be the same except for the dollar amounts which for each box must sum to the amount in the corresponding box of the original Form 1099-R.

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dmertz
Level 15

Received one 1099R for rollovers from 401(k) to both Traditional and Roth IRAs. Roth IRA portion was already taxed. How do I fill out the 1099R for each in TurboTax?

You must split the Form 1099-R into two, one for the after-tax portion rolled over to the Roth IRA and the other for the pre-tax portion rolled over to the traditional IRA.  All boxes will be the same except for the dollar amounts which for each box must sum to the amount in the corresponding box of the original Form 1099-R.

CherylW
Level 3

Received one 1099R for rollovers from 401(k) to both Traditional and Roth IRAs. Roth IRA portion was already taxed. How do I fill out the 1099R for each in TurboTax?

The letter code in box 7 will tell the IRS if it's a rollover or not.

Fill it out exactly as you have it in hand.

To fill out in the online version:

1.  Click Federal on the left-hand side menu.

2.  Click Income across the top.

3.  Scroll down to Retirement Plans and Social Security and click Show more.

4.  Click Start or Revisit by IRA, 401(k), Pension Plan Withdrawals (1099-R).

To fill out in the Desktop version:

 1.  Click Federal Taxes across the top.

2.  Click Wages & Income across the top.

3.  Click I’ll choose what I work on.

4.  Scroll down to Retirement Plans and Social Security.

5.  Click Start or Update by IRA, 401(k), early withdrawals.


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