topic 1099-r has both taxable (code 02) and non-taxable amounts (code G) on same form in Get your taxes done using TurboTax

1099-r has both taxable (code 02) and non-taxable amounts (code G) on same form

walkman9999 — Thu, 16 Jan 2020 20:46:30 GMT

Hello all,

I moved my entire pre-tax IRA into a 401k to facilitate a backdoor Roth conversion. After that, I contributed $7000 post-tax money into my (now empty) IRA and backdoored it into a Roth.

This resulted in two gross distributions in box 1 of my 1099-r. The first is a code G, for the amount that went into the 401k. The second is code 02, for the post tax money I put into the IRA before converting to Roth.

Should I enter the single 1099-r as two seperate ones so I can answer the interview questions? Or will TurboTax know that only some of the money was taxable because I entered it under "Taxable Amount" when filling out the 1099-r info?

THank you.

Re: 1099-r has both taxable (code 02) and non-taxable amounts (code G) on same form

dmertz — Thu, 16 Jan 2020 21:37:04 GMT

Even though these might be printed on the same sheet, these are two separate Forms 1099-R and each must be entered separately. Be sure to indicate for the code G Form 1099-R that the money was not rolled over to a Roth IRA (and, in fact, TurboTax shouldn't even be asking this question because a code G Form 1099-R with the IRA/SEP/SIMPLE box marked is not permitted to be used to indicate a rollover to a Roth IRA). For the code 2 Form 1099-R be sure to indicate that the money was moved to another retirement account and was converted to a Roth IRA.