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January 27, 2024
Question

4-1K direct rollover to another 401K not an option only to Roth etc

  • January 27, 2024
  • 2 replies
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2 replies

DoninGA
Employee
January 27, 2024

If box 7 has a code of G then you do not have to specify it was rolled over to another non-Roth 401(k) account.

The word ROLLOVER will be on Line 5a and an amount of 0 on Line 5b of your Form 1040.

January 27, 2024

The instruction below should help you move forward with your 1099-R entry.

 

The code in Box 7, of your Form 1099-R should have a 'G'.  If you enter the gross amount and taxable amount as the same amount, make sure you have the correct code in Box 7,

 

Next confirm you selected the following:

  1.  'No, the box is blank' for the question, 'Is the IRA/SEP/SIMPLE box on this 1099-R checked?'
  2. Select 'No, I didn't' for the questions, 
    • 'Did you move this money from a 401(k) to a Roth 401(k)?'
    • 'Did you move the money to a Roth IRA?'

You should be all set, please update here if you need further assistance.

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