401K distribution rollover

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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

Alumni - Intuit

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.

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Kurt5

Level 2

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

Alumni - Intuit

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.

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