I withdrew the RMD for 2018. Then I did a direct rollover of the balance of my IRA to my current 401K. The 1099R that I received is showing box 1 for total amount and box 2 total amount (RMD plus direct rollover amount). Box 7 has code 7. the direct rollover should be code G not 7. Now it is showing that I owe taxes on total amount.
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You can show in TurboTax that part of the money was rolled over. Please follow the instructions below to enter the 1099-R and the partly rollover:
Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), only the amount that was not rolled over will show here.
You can show in TurboTax that part of the money was rolled over. Please follow the instructions below to enter the 1099-R and the partly rollover:
Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), only the amount that was not rolled over will show here.
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