How to roll over 401k to IRA? No option for conversion to IRA. Change will not save. Reverts back to taking distribution and recording as ordinary income.

[robertkmitchell]

Premier will not allow conversion from 401k to IRA. Reverts back to cash out.

[DanaB]

What code is in box 7?

[SweetieJean]

Is it a Trad IRA, or a Roth?

[robertkmitchell]

Box 7 = G

[macuser_22]

You said "conversion", please elaborate.

Did you convert to a Roth IRA or roll into a Traditional IRA?

What is in box 2a?
Is anything in box 5?

[robertkmitchell]

taxable = $0; no rollover to Roth; then question what type disaster????

[robertkmitchell]

conversion 401k to traditional IRA; box 2a = $0; box 5 = $0

[macuser_22 · Accepted solution]

Enter a 1099-R here:

Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

(If box 7 has a code “G” it will automatically be a trustee-to-trustee rollover).

Answer no to the two Roth questions, the default is a Traditional IRA.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

It will show as income on the summary screen which shows gross income, not taxable income.

The income will be reported on line 4a on the 1040 form with the word “ROLLOVER” next to it if it was a rollover.

The taxable amount will go on line 4b.  In the case of a rollover, that amount will be zero.

====

Why is Qualified Disaster Distribution appearing even though i said no?

https://ttlc.intuit.com/replies/7253580