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C
charlotte-edelson
March 18, 2025
Question

I am being charged a penalty for "contributing" to my roth IRA but it was actually a traditional IRA rollover. How do I fix this?

  • March 18, 2025
  • 1 reply
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    1 reply

    L
    LeticiaF1
    March 18, 2025

    Go back to your 1099-R entry to make sure you entered the information correctly.  Usually when you have a direct rollover, your form will have code G in box 7. ‌If you didn't have a direct rollover and your code is different, keep going through your interview. There'll be questions about if you roll over any of your distributions.‌ See the images below for your reference:

     

    Where do I enter my 1099-R?

    Where do I enter an IRA rollover?

     

     

     

     

     

     

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