No, you do not enter this under an IRA contribution.
If the code in box 7 on the 1099-R doesn't already show that it was a direct rollover then follow the steps below to show it was a rollover:
- Login to your TurboTax Account
- Click "Take Me To My Return"
- Click "Federal" from the left side of your screen
- Scroll down to “Retirement Plans and Social Security” and click “Show more”
- Scroll down and click "Start" next to "IRA, 401(k), Pension Plan Withdrawals (1099-R)"
- Answer "Yes" to the question "Did You Have Any of These Types of Income?"
- Click "I'll Type it Myself"
- Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc." and select whom the form belongs to.
- Click "Continue" and enter the information from your 1099-R
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
- Then choose “I rolled over all of this money.”
