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My 401k rollover to an existing ira is not being credited to me because I was part of a retirement plan in 2020 for 3 months. how do i get credit for it?
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Retirement tax questions
What do you mean "not credited"? You should have a 1099-R for the distribution or rollover - what code is in box 7?
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Retirement tax questions
You don't get credit for it. It is just not taxable. You do not enter it as a new IRA contribution under Deductions. It is a Rollover not a contribution. Just enter the 1099R.
Enter a 1099R under
Federal Taxes Tab or Personal (Home & Business)
Wages & Income at the top
Then scroll way down to Retirement Plans and Social Security,
Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit
If you are filing a Joint return be sure to pick which person it is for.
Don't enter the bank or broker name and don't try to import it. It is just as fast and easy to manually enter it. At the bottom pick - Change How I enter my Form
Then on the next screen pick I'll Type it in Myself
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Retirement tax questions
Did not get a 1099r only a 5498 which turbotax does not acknowledge.
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Retirement tax questions
You don't enter the 5498. It is only for your info. You need to have a 1099R. Ask the 401K for another copy.
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Retirement tax questions
Yes. I have done all that. However the form I was given from Fidelity is not a 1099r but a 5498 which Turbotax does not let me enter.
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Retirement tax questions
W2 box 7 is blank, that's ok. Leave it blank. If you think your W2 is wrong ask your employer.
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Retirement tax questions
He wanted to know the code in box 7 on a 1099R (not your W2). You need a 1099R.