topic I Rolled an employer's Traditional IRA into another Traditional IRA at my bank. Not sure if TT is properly processing the NON-Taxable, (1099R, Line 7 G) Disbursement. in Retirement tax questions

I Rolled an employer's Traditional IRA into another Traditional IRA at my bank. Not sure if TT is properly processing the NON-Taxable, (1099R, Line 7 G) Disbursement.

ChipperOneHalf — Tue, 04 Jun 2019 21:03:46 GMT

Again, this is a 1099R Disbursement from a former employer. The money was transferred directly to Wells Fargo as non-taxable. I admit the new tax format has thrown me a bit;)

In the first place you didn't have a IRA at the employer....

VolvoGirl — Tue, 04 Jun 2019 21:03:48 GMT

In the first place you didn't have a IRA at the employer. It was a 401k. Code G is a direct transfer and not taxable. It should show up on 1040 line 4a and zero taxable on 4b and should say ROLLOVER by it.

Thanks for verifying. I worked it out long-form, and came...

ChipperOneHalf — Tue, 04 Jun 2019 21:03:49 GMT

Thanks for verifying. I worked it out long-form, and came to that conclusion. Confusion came from first using Credit Karma with a completely different, miles apart, result. They argued with me that it should flow to the taxable 4b box. I've spent a lot of time second-guessing myself. Even gave them the example of the old tax forms having the amounts flow to 14a and 14b. Oh well.