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Rollover from 401K to Roth IRA.

Level 1

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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Level 15
Level 15
You're sure it wasnt a ROTH 401k to a ROTH IRA?

Level 1

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.




Level 15

"I found the solution, inadvertently."

Here is your Help article:



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