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1099R direct rollover from employer pension to roth IRA


tax1111

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code in box 7 is G. box 1 and box 2a shows same amount. But when I input data as shown on the 1099R into Drake, it shows 0 taxable amount on 1040 line 5b. This is a direct rollover from pension to roth IRA and it should be taxable. Can anyone help fix this issue?

Thank you!

 

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5 minutes ago, Lion EA said:

Are you sure it's a fully-taxable pension? Could it be a Roth 401(k) to a Roth IRA direct rollover?

1099r shows taxable amount in box 2a the same as box 1 amount. Can I assume it is from traditional 401k plan rollover to roth ira or I need to confirm with client about this? Thanks.  

 

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On 4/15/2021 at 11:34 AM, Lion EA said:

Are you sure it's a fully-taxable pension? Could it be a Roth 401(k) to a Roth IRA direct rollover?

This is the main thing that I agree with in this thread. 

The quote below is excellent advice as well.

On 4/16/2021 at 2:17 AM, Slippery Pencil said:

No

Yes

Also, never assume. Always verify with the client and have documented proof to support your position. As said in another thread, nothing is worth loosing a license over.

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