Joem100
Level 1
‎05-04-2021 03:27 PM

On advice from his broker, client rolled over his 401K account balance to a Roth IRA. Taxable event. The 1099-R shows the rollover amount as taxable. The distribution code shows as "G", for a rollover to an IRA.

Proseries is not showing the amount as taxable, presumably because of the G code. How do I fix this?

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Just-Lisa-Now-
Level 15
Level 15
‎05-04-2021 04:14 PM
You're sure it wasnt a ROTH 401k to a ROTH IRA?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Joem100
Level 1
‎05-04-2021 05:18 PM

Positive. Not a Roth 401K.

In any event, I found the solution, inadvertently.

On page 2 of the 1099-R worksheet, you can indicate that it was rolled to a Roth IRA. That takes care of the issue.

Thanks for looking at this.

 

 

 

qbteachmt
Level 15
‎05-04-2021 09:35 PM

"I found the solution, inadvertently."

Here is your Help article:

https://proconnect.intuit.com/community/individual/help/proseries-form-1099-r-faq-s/00/4853

 

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