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philiptpoling
April 9, 2025
Question

401k Rollover

  • April 9, 2025
  • 1 reply
  • 0 views

I rolled over a 401k account to a traditional IRA.  The 1099-R form as a G in Box 7 for rollovers.  Turbotax is counting this money as taxable income. How can I fix this?

    1 reply

    AmyC
    AmyC
    April 10, 2025

    The G signifies rollover so the problem is in the questions that were asked after entry. Follow these steps:

    1. Edit the 10999-R and go back through the questions 
    2. not public safety officer
    3. select qualified plan
    4. another type of qualified plan
    5. RMD zero
    6. I moved the money to another retirement account
    7. I rolled over all of the money to an IRA or another retirement account

    You won't have to pay tax on your rollover.

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