topic Re: 1099-R in Get your taxes done using TurboTax

1099-R

aolfato — Tue, 18 Feb 2020 03:59:05 GMT

Hello, my wife received a 1099-R for 2019 and box 2a is 0.00 and the box 7 is code G for a direct rollover. Box 4 is also 0.00 for fed withholding. However, it is still showing as income and our federal refund significantly decreased. Why is this? Do I need to contact her former retirement company? Please help. Thank you.

Re: 1099-R

MinhT1 — Tue, 18 Feb 2020 04:14:49 GMT

After entering your form 1099-R, you have to follow the TurboTax interview to indicate (or confirm) that the money has been rollovered to another retirement plan.

TurboTax will then not subject the rollover to taxation.

Re: 1099-R

macuser_22 — Tue, 18 Feb 2020 04:33:34 GMT

Duplicate post - see your other post here:

https://ttlc.intuit.com/community/taxes/discussion/re-1099-r/01/1176545#M430631

Re: 1099-R

tuxedobird — Thu, 27 Feb 2020 18:30:59 GMT

Where do I enter the the location that my 401k was rolled over to?

Re: 1099-R

JamesG1 — Thu, 27 Feb 2020 18:52:58 GMT

If you have a direct rollover with a code 'G' in box 7, make sure you answer the questions on these screens correctly:

Rollover of 401(K) to Roth 401(K), and
Was this money rolled over to a Roth IRA.

You do not have to disclose where the 401K was rolled to.

Re: 1099-R

tuxedobird — Fri, 28 Feb 2020 21:08:04 GMT

It is showing up as income and that can't be right.

Re: 1099-R

macuser_22 — Fri, 28 Feb 2020 21:11:23 GMT

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

The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.

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

The taxable amount on 4d should be 0.