topic Transfer 401K to IRA Account in Get your taxes done using TurboTax

Transfer 401K to IRA Account

AF61 — Fri, 26 Mar 2021 14:06:40 GMT

Why does the 401K funds show as Income but where is the offset into the IRA shown ?

Re: Transfer 401K to IRA Account

SweetieJean — Fri, 26 Mar 2021 14:48:51 GMT

Did it go to a Trad IRA or a Roth IRA? After you enter the 1099-R, the program asks if you did a rollover. The TT Income Summary lists only the gross amount, and is just FYI. Both the gross and taxable figures will appear on your tax return. (But a transfer from a Trad 401(k) to a Roth IRA is taxable.)

Re: Transfer 401K to IRA Account

AF61 — Sun, 28 Mar 2021 20:47:42 GMT

From a 401K to Traditional IRA