YEAH!! Turbo gave a great answer:
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account (or returned it into the same account) ”
- Then choose “I rolled over all of this money.”
Please be aware that the whole distribution will show as income on the summary screen in TurboTax which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), this should be $0 and have ROLLOVER next to it.
To preview Form 1040:
- On the left side of your screen, select Tax Tools, then Tools.
- Under Tool Center, select View Tax Summary.
- On the left side of your screen, select Preview my 1040.
