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April 8, 2025
Question

I converted a 401K to a Traditional IRA but I am being taxed on the transfer. How do I show the transfer was made and not be taxed?

  • April 8, 2025
  • 1 reply
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    1 reply

    April 8, 2025

    If your Form 1099-R has code G in box 7 then you will report the rollover to the Traditional IRA with these steps:

     

    1. Click on "Search" on the top right and type “1099-R” 
    2. Click on “Jump to 1099-R”
    3. Click "Continue" and enter the information from your 1099-R
    4. On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
    5. On the "Did you move the money to a Roth IRA?" screen answer "No"

     

     

    If you have any other code in box 7 then follow these steps:

     

    1. Click on "Search" on the top right and type “1099-R” 
    2. Click on “Jump to 1099-R”
    3. Click "Continue" and enter the information from your 1099-R
    4. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion”, choose “I rolled over some or all of it an IRA or retirement account within the time limits (normally 60 days)”, and click “Continue
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