You should have proof of the qualified rollover with your 1099-Q tucked safely into your tax folder. If you put the Q into the program, it won't go on our tax return since nothing is taxable. The IRS gets the forms, not the program.
The IRS will never see it reported so there isn't any good reason to waste time entering it into the program.
Officially, IRS Publication 970, Tax Benefits for Education states:
Any amount distributed from a QTP isn't taxable if it's rolled over to:
- A Roth IRA for the benefit of the same beneficiary, if the distribution is a direct trustee-to-trustee transfer from a QTP account that has been open for more than 15 years and the amount distributed does not exceed total contributions (and attributable earnings) made to the QTP more than 5 years before the distribution date. However, this doesn't apply to the extent the amount distributed when added to other amounts contributed to Roth IRAs exceeds the annual contribution limit. For more information about contributions to Roth IRAs, see Pub. 590-A.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
