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Level 3
posted Feb 23, 2024 10:26:18 AM

Should I split my 1099-R to two forms?

From my 401K, I rolled over after-tax money $714.26 into Roth, and rolled over the rest (pre-tax) into Traditional IRA in 2023. I received single 1099-R form with box1 containing total rolled over amount, box 2a marked as 0.0, box5 filled with $716.26, and box7 marked as 'G'. After import the form, TurboTax asks me 'Did you Move these money into Roth IRA?',  My understanding is it is asking about the amount in box1.  And my box1 contains amounts rolled over to both traditional IRA and Roth IRA.    To correctly answer the question, should I split single 1099-R form into  two forms?

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1 Best answer
Expert Alumni
Feb 27, 2024 1:18:44 PM

Yes, you should split the form into two different entries. As long as the sum of the two entries agrees with what is reported on the 1099-R form the IRS will be able to match your entries to their copy of the 1099-R form.

1 Replies
Expert Alumni
Feb 27, 2024 1:18:44 PM

Yes, you should split the form into two different entries. As long as the sum of the two entries agrees with what is reported on the 1099-R form the IRS will be able to match your entries to their copy of the 1099-R form.