Hi,
I have received 1099-R for 2024 for rolling over $53750 from an after-tax 401k account to a Roth IRA. I contributed $53430, so the gain of $320 is taxable.
In 1099-R,
Box 1: $53750
Box 2a $320
Box 5 $53430
Box 7 G
In step by step Tax entry, I selected Yes to the question "Was this Money Rolled Over to a Roth IRA?" and Yes to the question " Did you make after-tax contribution to this 401(k) or 403(b) plan" and entered "$53430" as the amount I contributed. Although I don't know if Turbo Tax actually retains the answers to these two questions as every time I open this 1099-R Entry to check, these two seem to have the default "No" ansswers.
However, in 1099R Summary form,
line 26 (Taxable amount in box 2a, Form 1099-R) shows 320, which is correct
line 26a (Taxable amount rolled over) incorrectly shows 0 instead of 320
line 31 (Taxable amount of Roth IRA conversions) shows 320
line 321 (Taxable amount of distributions) shows 640 instead of 320
In 2023, I have a similar situation and the line 26a was calculated correctly. How can I fix this issue without overriding line 26a? I believe I won't be able to efile if I override it.
Your answer would be greatly appreciated.
JoAnn
