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Get your taxes done using TurboTax
1. Even though your direct rollover is not taxable, you must report the form 1099-R on your tax return. When entering the form 1099-R, follow the interview and say that you rolled over the money to an IRA.
2. You are correct. As the rollover is not taxable, it did not affect your ta x liability.
3. The rollover is reported as Income, but not as Taxable income or included in your Gross Adjusted Income. It does not affect your MAGI.
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ā€ˇFebruary 10, 2021
9:22 AM
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