Solved
1099R rollover to IRA
I have a 1099R rollover from 401k to IRA. The box 7 is G. In the income summary, it shows it as my no taxable income. Why?
Is there way to indicate this is rollover?
TurboTax shows it as nontaxable income because a rollover from the traditional account in a 401(k) to a traditional IRA is nontaxable. "Income" just means that it is something required to be entered into TurboTax even though it might be nontaxable.
By answering No to TurboTax's questions answering that the rollover was not to any kind of Roth account, TurboTax treats the distribution as a nontaxable rollover, meaning that it does not add to your Adjusted Gross Income from which everything else on your tax return is determined.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
