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Solved

How do I enter rollover from after-tax 401K split between Roth IRA and regular IRA ?

Forum|Forum|6 years ago
June 1, 2019
3 replies
0 views

I had made after-tax contributions to my fidelity 401K account. After about a year, I rolled over the after-tax contributions to my Roth IRA account ("mega backdoor Roth IRA"), and the investment gains on those contributions to a regular IRA (to defer paying taxes on them).

I am unable to figure out how to enter this information through the 1099-R section on turbotax online. It doesn't seem to support an option for indicating that part of the rollover is non-taxable (the Roth IRA portion) and part is tax deferred (regular IRA portion).

Thanks.

TurboTax Live Premier Online

Best answer by dmertz

You must split the code G Form 1099-R into two, one for the after-tax portion (which will include the box 5 entry) rolled over to the Roth IRA and another for the pre-tax portion rolled over to the traditional IRA. The dollar amounts on these two Forms 1099-R must total to match the original. The rest of the information on the original Form 1099-R will be duplicated on both of the entered Forms 1099-R.

What was the code in box 7?

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getsaurabhgoelAuthor

'G'

dmertzAnswer

Employee

You must split the code G Form 1099-R into two, one for the after-tax portion (which will include the box 5 entry) rolled over to the Roth IRA and another for the pre-tax portion rolled over to the traditional IRA. The dollar amounts on these two Forms 1099-R must total to match the original. The rest of the information on the original Form 1099-R will be duplicated on both of the entered Forms 1099-R.

getsaurabhgoelAuthor

Thanks very much. Your suggestion makes total sense. I was able to enter the information in Turbotax and the return forms look good!