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Level 3
posted Feb 17, 2023 12:35:27 PM

Do you need to use the simplified method worksheet to calculate the taxable amount?

So I have a 1099 R, I rollover the entire 401k to a roth IRA in 2022 due to I change my job to another company. I was asked this question "Do you need to use the simplified method worksheet to calculate the taxable amount?" Should I choose yes or no?

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1 Replies
Level 15
Feb 17, 2023 2:10:49 PM

The Simplified Method only applies to periodic distributions.  A rollover to a Roth IRA is not a periodic distribution.  Choose No.