topic You must split the code G Form 1099-R into two, one for t... in Retirement tax questions

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

getsaurabhgoel — Sat, 01 Jun 2019 17:39:55 GMT

I had made after-tax contributions to my fidelity 401K account. After about a year, I rolled over the after-tax contributions to my Roth IRA account ("mega backdoor Roth IRA"), and the investment gains on those contributions to a regular IRA (to defer paying taxes on them).

I am unable to figure out how to enter this information through the 1099-R section on turbotax online. It doesn't seem to support an option for indicating that part of the rollover is non-taxable (the Roth IRA portion) and part is tax deferred (regular IRA portion).

Thanks.

What was the code in box 7?

DanaB — Sat, 01 Jun 2019 17:39:56 GMT

What was the code in box 7?

'G'

getsaurabhgoel — Sat, 01 Jun 2019 17:39:57 GMT

'G'

You must split the code G Form 1099-R into two, one for t...

dmertz — Sat, 01 Jun 2019 17:39:58 GMT

You must split the code G Form 1099-R into two, one for the after-tax portion (which will include the box 5 entry) rolled over to the Roth IRA and another for the pre-tax portion rolled over to the traditional IRA. The dollar amounts on these two Forms 1099-R must total to match the original. The rest of the information on the original Form 1099-R will be duplicated on both of the entered Forms 1099-R.

Thanks very much. Your suggestion makes total sense. I wa...

getsaurabhgoel — Sat, 01 Jun 2019 17:40:00 GMT

Thanks very much. Your suggestion makes total sense. I was able to enter the information in Turbotax and the return forms look good!

Re: You must split the code G Form 1099-R into two, one for t...

GiancarloJulie — Sun, 07 Apr 2024 18:54:19 GMT

I am confused as to how to enter this into TurboTax. Where can I find step-by-step directions?

Re: You must split the code G Form 1099-R into two, one for t...

DanaB27 — Sun, 07 Apr 2024 21:01:18 GMT

Please follow these steps to split you Form 1099-R:

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Enter the first 1099-R for the rollover into the traditional IRA:
1. Box 1 Enter amount send to traditional IRA
2. Box 5 blank
On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
On the "Did you move the money to a Roth IRA?" screen answer "No"
Enter a second 1099-R for the conversion to Roth IRA:
1. Box 1 Enter amount send to Roth IRA
2. Box 5 enter amount listed on Form 1099-R
On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
On the "Did you move the money to a Roth IRA?" screen answer "Yes"

@GiancarloJulie