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IRA Distribution - Partial Rollover and partial Roth Rollover

cdubblee

I received a total distribution from the funds held by my Thrift Savings Plan. The 1099R shows a gross distribution in block 1. Block 5 shows an amount as designated as Roth contributions. Block 7 shows code G. I have rolled over all of the funds into a regular IRA and the portion in block 5 into a Roth. I am confused as to the screen which states:

"Is this 1099-R a rollover from a 401(k), 403(b), or governmental 457(b) plan to a designated Roth 401(k), 403(b), or 457(b) plan?" "Yes or No?"

"Did you roll over this distribution to a Roth IRA?" "Yes or No?"

The money shown on the 1099-R was rolled over into a regular IRA and a Roth.

What do I put here?

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Accepted answers

CoryF

Thank you for joining our community.

The Box 7 code G is the correct code to show the rollovers. You would answer Yes to the first question since that question shows all possible accounts that the distributions in Box 1 and Box 5 came from. This ensures that the FreeTaxUSA software applies the right procedure for reporting these amounts as rollover distributions.

cdubblee

Thank you.

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CoryF

Thank you for joining our community.

cdubblee

Thank you.

KenS

I took a withdrawal from my 401k and then only rolled over part of it into an IRA a month later. Where do you enter the amount of a partial indirect rollover?

MatthewD

Hello KenS,

When you enter your 1099-R, the software takes you through several pages. When you get to the "Is this a rollover?" page, you are asked if you rolled any amount over to another account. Answer, "Yes" and then enter the amount.