I rolled over my 401k into a traditional ira where do i input it in turbotax

[macuser_22 · Accepted solution]

Enter a 1099-R here:

Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

If this was a rollover or conversion, answer the question that you moved the money to another retirement account (can be the same account). The screen will open up with choices of where it was moved.

(If box 7 has a code “G” it will automatically be a trustee-to-trustee rollover).

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

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

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

The taxable amount will go on line 4b.  In the case of a rollover, that amount will be zero.

[Tushi_Florida]

if you rollover from 401(k) into trad. IRA and then converted it into roth IRA, then? what goes on 4a and what goes on 4b?

[macuser_22]

@tushi_florida - You should have 2 1099-R's for that.  The rollover would be non-taxable so nothing would be on 4b and the conversions would be all taxable so that would be on 4b.

[Tushi_Florida]

I get that but how to enter the actual numbers. for example, two 401(k) got rolled over into IRA (15,000 and 20,000) and then one of them, 15,000, got converted to roth IRA. what number goes to 4a and what number goes 4b? can you explain it?

[macuser_22]

You enter it as in my answer above.  The 1099-R box 7 codes and your answers to the questions  will determine the taxable amount. .  TurboTax will put the taxable amount on line 4b.  The non taxable rollover will go on 4a.

[Tushi_Florida]

ok. in case I prefer to file manually, do you what number goes on 4a? is it 15+20=35 or 15+20+15=50?

[macuser_22]

Entering data directly in the forms mode is not supported and you must know exactally what you are doing.   Many form entries come form other forms and worksheets.  Form entry voids the TurboTax accuracy guarantee.

What actually goes on 4a depends on how you interrupt the convoluted line 4 IRS rules.   It also depends  if you have other 1099-R's or if and one was partly rolled over and part converted.  The line 4a rules have many "if's" and exceptions.

You can read the line 4 rules here: pages 28-30.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/i1040gi.pdf">https://www.irs.gov/pub/irs-pdf/i1040gi.pdf</a>

[Tushi_Florida]

new rules for 4a and 4b are written as if the writer were writing for two separate lines and did not expect that someone could rollover and then convert funds from 401(k)--->trad IRA --->Roth IRA in the same year.

Question is that if you follow rules then rollover and conversion of the same 401(k) funds you end up putting the same numbers twice in 4a (one for rollover and again for conversion). Basically, you will repeat it twice just because the previous two line (15 and 16) now became one line 4. But it makes no sense.

so, again, two 401(k) got rolled over into IRA (15,000 and 20,000) and then one of them, 15,000, got converted to roth IRA. what number goes to 4a and what number goes 4b? do you put 15+20=35 on 4a or 15+20+[15]=50?

[macuser_22]

Assuming 3 1099-R's 2 with a box 7 code G and one with box 7 code 1 or 7 and the IRA box checked and no other 1099-R's, line 4a would be 35,000, 4b would be 15,000 with the word "ROLLOVER" next to it (under the 4a amount).

[Tushi_Florida]

ok. one 1099-R has code G and another 2 in box 7. does it change the calculation?

[macuser_22]

You said 2 401(k)'s were rolled into a IRA.   That would be 2 1099-R's.   Then the IRA was converted to a Roth - that would be another 1099-R.

It is not clear just what you did.    What are the box 1 amounts?  Is the IRA/SEP.SIMPLE box checked on the one with the code 2?

[Tushi_Florida]

yes. two 401(k)s rolled over into trad. IRA (both have G in box 7). then one was converted into roth IRA (it has 2 in box 7). so what number goes to 4a and what in 4b (assume one was 20,000 and another 15,000 as I wrote earlier)?

[VolvoGirl]

Why aren't you just entering each 1099R and let Turbo Tax do it?  If you enter directly on the forms you may not be able to efile.  And you might miss entering something in an important place. There are many underlying worksheets that you have to make the actual entries on to flow to the right forms.

[Tushi_Florida]

Please, I got that. But if you would not mind, if you know the answer to my question you can answer it.