Retirement tax questions
To indicate a ROLLOVER, you must enter the information after your enter the 1099-R in the income section. (see below) You will indicate the rollover amount and TurboTax will report it on your tax return. DO NOT enter in the Deductions & Credits section.
When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. By rolling over, you’re saving for your future and your money continues to grow tax-deferred.
If you don’t roll over your payment, it will be taxable (other than qualified Roth distributions and any amounts already taxed) and you may also be subject to additional tax
To enter the K-1, see Where do I enter a K-1 that I received?
