You should not need another version of TurboTax. If your IRA was directly rolled over or rolled over within 60 days to another IRA, it should not be taxable. Was it rolled over to another IRA (precious metals IRA) or to a brokerage account? What code was on your Form 1099-R in Box 7?
At one time IRAs were limited to holding gold and silver coins, but today IRAs can invest in IRS-permitted gold, silver, palladium and platinum bullion and coins.
With the transferred or rolled-over money, your IRA manager buys gold or other eligible precious metals on your behalf in the form of IRS-approved bullion bars or certain coins.
A direct rollover, where the trustee of your 401k transfers money to the trustee of your Gold IRA, is the easiest method, and is also the best way to make sure that your rollover is executed without any tax penalty.
You can't hold physical precious metal in a regular individual retirement account (IRA). However, there are specially designed precious metal IRAs that let you invest for retirement using gold, palladium, silver and other valuable metals.
Click here for more information on investing in gold and silver.
To delete your Form 1099-R:
Click here for information on deleting your Form 1099-R in TurboTax.
To reenter your Form 1099-R:
Click here for where to enter your Form 1099-R.
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