Received 1099-R distribution code G which was a direct 100% transfer from one IRA to another. I could inter the payers info, but did not see where the receiving company.

Forum|Forum|7 years ago
June 6, 2019
2 replies
3 views

Where do I inter the receiving company info in turbo tax on a direct IRA rollover? 100% was transferred.

TurboTax Deluxe Online

VolvoGirl

Level 15

Code G means direct rollover and it will not be taxed at all. You don't need to enter where you moved it. But just to warn you the Income Summary and Review screens will show the full amount as income and make it look like it's being taxed. But it's not, you have to look at the actual 1040 or 1040A and see that the taxable amount is zero and has the word ROLLOVER by it.

alanwilkerson53

Level 2

With Turbotax 2019 how do you view the forms themselves? I don't see a place for that.

Anonymous

No, you don't need to include the receiving company information from your rollover on your tax return.

To record your rollover using TurboTax

If you have already started your return

Select the TurboTax "Search" button located near the top right of your screen
Type "1099-r" into the search box
Click on "Jump to 1099-r" from the results list
TurboTax will ask you about your rollover distribution on a series of screens. Answer the questions on each screen. TurboTax will guide you through what is needed to record your rollover distribution. Press “Continue” after finishing your entries on each screen