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February 7, 2025
Solved

If I moved money, within my 401k, pretax to Roth should I expect a tax form from my financial institution?

  • February 7, 2025
  • 1 reply
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I expect it to show as income. I have not seen it reflected in my forms in turbo tax after import.
    Best answer by dmertz

    Yes.  They are required to provide you with a Form 1099-R that will have code G in box 7, the IRA/SEP/SIMPLE box unmarked, the gross amount in box 1 and the taxable amount in box 2a.  If your traditional account in the 401(k) was entirely pre-tax, the amount in box 2a will be the same as the amount in box 1.

    1 reply

    dmertzAnswer
    Employee
    February 7, 2025

    Yes.  They are required to provide you with a Form 1099-R that will have code G in box 7, the IRA/SEP/SIMPLE box unmarked, the gross amount in box 1 and the taxable amount in box 2a.  If your traditional account in the 401(k) was entirely pre-tax, the amount in box 2a will be the same as the amount in box 1.