1099-R

[aolfato]

Hello, my wife received a 1099-R for 2019 and box 2a is 0.00 and the box 7 is code G for a direct rollover.  Box 4 is also 0.00 for fed withholding.  However, it is still showing as income and our federal refund significantly decreased.  Why is this?  Do I need to contact her former retirement company?  Please help.  Thank you.

[MinhT1]

After entering your form 1099-R, you have to follow the TurboTax interview to indicate (or confirm) that the money has been rollovered to another retirement plan.

TurboTax will then not subject the rollover to taxation.

[macuser_22]

Duplicate post - see your other post here:

https://ttlc.intuit.com/community/taxes/discussion/re-1099-r/01/1176545#M430631

[tuxedobird]

Where do I enter the the location that my 401k was rolled  over to?

[JamesG1]

If you have a direct rollover with a code 'G' in box 7, make sure you answer the questions on these screens correctly:

• Rollover of 401(K) to Roth 401(K), and
• Was this money rolled over to a Roth IRA.

You do not have to disclose where the 401K was rolled to.

[tuxedobird]

It is showing up as income and that can't be right.

[macuser_22]

It will show as income on the summary screen which shows gross income, not taxable income.

The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.

The income will be reported on line 4c on the 1040 form with the word “ROLLOVER” next to it if it was a rollover.

The taxable amount on 4d should be 0.