401K distribution rollover

[buffalomike]

Why is a 401K distribution shown on a 1099-R form which was rolled over into another IRA shown as income? It's shown as non-taxable, box 2a, and box 7 is marked "G".

[MinhT1]

After you enter your form 1099-R, continue the interview to indicate (or confirm) that this is a rollover. TurboTax will exclude it from taxation.

On the income summary, you will see the distribution in Gross Income, but not taxable income.

[Kurt5]

What will these calculations showing rollovers as Gross Income do to calculations for ACA subsidies? When estimating my income for ACA subsidies I certainly was not taking into account rollovers from one retirement account to another retirement account.

[DaveF1006]

 it depends on the rollover. According to this Turbo Tax link,  your original retirement account was funded with pre-tax dollars, and you rolled  it into a Roth IRA, then the income would be includable income in determining ACA subsidies.

[donmads]

Reviewing my return in turbo tax I keep getting asked to input city, state etc for my 401 that I entered.

I have entered just what I was asked and still blocked from going forward on finishing my return.

What am I doing wrong and how to fix.  I have gone back in and reviewed payers info and all looks ok and is in the return.  What system is asking is like there isn't any info.  can I call someone to figure this out.

[DoninGA]

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@donmads wrote:

Reviewing my return in turbo tax I keep getting asked to input city, state etc for my 401 that I entered.

I have entered just what I was asked and still blocked from going forward on finishing my return.

What am I doing wrong and how to fix.  I have gone back in and reviewed payers info and all looks ok and is in the return.  What system is asking is like there isn't any info.  can I call someone to figure this out.

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Try deleting the Form 1099-R and re-enter manually.  Make sure the Address, City and State are correct for the zip code entered using this USPS website - https://tools.usps.com/go/ZipLookupAction_input

Enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

[Kurt5]

TurboTax seems to be handling everything correctly. The rollovers were from traditional 401K's to Traditional IRA's. 1099-R's were coded G. As it turns out, based on the 1095-A from the marketplace, I was actually eligible for a slightly larger aca subsidy.