JulieS
Expert Alumni

Retirement tax questions

No, the option for an indirect rollover is not explicitly listed in TurboTax, but everything you need is there.

 

The questions come up just after the 1099-R entry, here is how to report it:
 

  1. Select Federal from the left side menu.
  2. Select Wages & Income. 
  3. Expand the list and scroll down to Retirement Plans and Social Security.
  4. Expand the section and click Start to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R), or click Review, if you already entered it. (Skip to step 8, if you already entered your 1099-R)
  5. At this point you can import your 1099-R, if it is from one of our partners or, scroll down the bottom and select, Change how I enter my form. 
  6. On the next screen, select Type it in myself, in the lower right corner.
  7. Select 1099-R on the next screen and click Continue.
  8. If you have a "1" or "2" in box 7, you will need to watch for the screen titled, "What did you do with the money from (your broker's name)?" Pick the first answer, "I moved the money to another retirement account."
  9. Pick the first answer to the next question, "I rolled over all of this money to an IRA or other retirement account."
  10. Continue through the end of this section.   That will show the distribution on your return, but it will not be added to your taxable income.   
     
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