Question

How do I enter that i moved my Roth 401K from my previous employer to my new employer's Roth 401K plan?

Forum|Forum|4 years ago
February 12, 2022
1 reply
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When I input the information from my 1099-R, it only asks if the Roth 401K was rolled over to a Traditional IRA or Roth IRA. It's counting it as income and I don't see where I can show that it was moved into my current employers plan.

TurboTax Premier Online

DaveF1006

To clarify, what distribution code is shown in box 7? Is it a Code G?

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G

gracekp305Author

I received 2 1099-R from the same company. 1 had code G and the other had code BG.

R

RaifH

The code G indicates that it is a rollover and the code B indicates that it is a Roth account. You will want to make sure that you enter both codes when entering the 1099-R. It seems as if you only have the Code G in there. To do this:

Go into the Federal > Income & Expenses > Retirement Plans & Social Security > IRA, 401(k), Pension Plan Withdrawals (1099-R) section.
Click Review next to the 1099-R that has the Code BG
Under the entry for Box 7, click the box that says I have more than one value in Box 7 and enter the other code.

Once you have both codes in, TurboTax will know it was a rollover from a Roth account and it should not ask if it is going to a traditional or Roth IRA.