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Retirement tax questions
No; the $10,000 should be treated as a "rollover" from the 401(k) to the IRA. You should receive a 1099-R from the 401(k) plan; enter that form into TurboTax, then answer the questions following it to confirm it qualifies as a rollover.
Preferably, it should have been a "direct rollover" paid by the 401(k) plan directly to your IRA provider; if so it should be straightforward. If you received money personally from the 401(k), taxes should have been withheld from that check; you must have deposited the GROSS amount of that check (including withholding) to the IRA within 60 days to avoid taxes & potential penalties on at least part of the 401(k) distribution.
‎January 23, 2022
3:48 PM
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