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Get your taxes done using TurboTax
Report the Form 1099-R on your 2022 tax return. Any amount you rolled over, if you were able to accomplish this within the 60 days, will not be taxed and you will answer a question about how much you rolled over when you enter your Form 1099-R.
If you did not do as suggested and take the $1,580 (federal withholding amount) from a savings to add to your rollover, then you will pay tax and penalty on that amount because it is an early distribution (received before retirement age). TurboTax will handle your situation when you answer the questions.
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‎February 15, 2023
7:55 AM
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