There was still a distribution from one of your retirement accounts, even though it was rolled over to another account. The financial institution must generate a 1099-R and send a copy to you and the IRS. If it was rolled over to a similar type of retirement account, the distribution should be nontaxable.
Since it was a rollover, there should be a code G in box 7 of your 1099-R. Go ahead and enter the information into TurboTax using these steps:
- Click on Federal Taxes >
Wages & Income [In TT Self-Employed: Personal >
Personal Income].
- Scroll down to the Retirement
Plans and Social Security section and click on the Start/Revisit box
next to IRA, 4701(k), Pension Plan Withdrawals (1099-R). [See
Screenshot #1, below.]
- If you've already entered one (or
more) 1099-Rs, you will see a screen Your1099-R Entries. Click
on the link Add Another 1099-R. [Screenshot #2]
- If you haven't already entered a
1099-R, you will see the screen, Your1099-R. Click Yes and
then Continue.
- You can either import your 1099-R
or click on the I'll type it in myself box. [Screenshot #3]
- If you select to enter the
information yourself, continue through the screens, answering the
interview questions.
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