If you enter a rollover into TurboTax it will put "ROLLOVER" as an explanation next to it on Form 1040.
To enter a rollover please follow these steps:
- Login to your TurboTax Account
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R” and enter your 1099-R
- Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
- Continue answering the questions.
If you have code G in box 7 the questions might look a little different:
- On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No" (you get this question if it was from a 401k)
- On the "Did you move the money to a Roth IRA?" screen answer "No"
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