Question

After completing my income, turbotax still shows the 401k rollover as taxable income, even though code G is entered in box 7, and it is marked NO, not moved to Roth account. When/how does this change to nontaxable?

Forum|Forum|4 years ago
April 12, 2022
2 replies
0 views

No text available

Go back through the Form 1099-R section for that distribution and carefully answer the follow-up questions. Be sure that you did not indicate that it was rolled into a Roth 401k or Roth IRA. Either of these options would make it a taxable event.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

R

rikdec19-2Author

I went back through it 4 times. Each time I verified it is not rolled into a Roth account.

Still shows up as taxable income

R

rikdec19-2Author

I think it resolved the issue by completing the deductions sections. Then it showed up as nontaxable.

D

dkrich

I have the same problem. Leaving me owing a gteat deal of taxes. I also went through it several times and it still shows in the income total, but the money went to another IRA account.

F

FangxiaL

Check to see if you accidentally checked the box "Yes, I moved the money to a Roth 401(k), 401(b), or 457(b) plan to a designated Roth 401(k), 403(b), or 457(b) plan."