Tax question - pension rollover to IRA

[jaylea]

I am at a loss, and my trusty standby tax software isn’t helping.

I left my former employer with a small (<$5k) pension balance. They rolled it directly into an IRA with the custodian - no money ever came to me, it was a direct transfer. Yet my 1099-R has the “taxable amount” blank. Not zero. So TurboTax says I need to calculate the taxable amount... but how the hell would I know how to do that? I never took a disbursement.

Also, can I deduct HSA contributions?

[puppylove64]

What is the letter code on the 1099R? Box 7

[jaylea]

Feb 5, 2020 13:46:30 GMT -5 puppylove64 said:

What is the letter code on the 1099R? Box 7

G

[puppylove64]

It shouldn’t matter what you put in the taxable amount box, the code will override it. Type the same thing that is in box 1 and double check your tax form that it doesn’t increase your income by that amount.