topic 401k rollover to IRA in Retirement tax questions

401k rollover to IRA

sammac4 — Thu, 30 Jan 2025 14:28:44 GMT

My 1099R shows a G for direct rollover. My federal shows it correctly but my Michigan return says I'm getting a refund for $144,000. This cannot be correct. It seems my Michigan return doesn't recognize it as a rollover.

Thanks for your help

Steve

Re: 401k rollover to IRA

dmertz — Thu, 30 Jan 2025 15:52:18 GMT

The result suggests that you incorrectly entered an amount of state tax withholding somewhere. Perhaps in box 4 of TurboTax's 1099-R form you mistakenly entered the gross-distribution amount instead of zero. You could try deleting and reentering this Form 1099-R if it's the entry of this form that caused the change in the Michigan tax refund.

Re: 401k rollover to IRA

sammac4 — Sun, 02 Feb 2025 14:11:27 GMT

Thanks, dmertz.

I did what you recommended and re-entered the 1099R. That took care of my problem.