kholsclaw
New Member

Retirement tax questions

How do I report an indirect rollover in Turbotax, if not by reference to Form 5498? The IRA custodian issued a 5498 to identify an indirect rollover that my 1099-R included as an early distribution. Turbo Tax Help notes imply that the IRA custodian should issue a corrected 1099-R, but this would seem to defeat the purpose of the 5498 they issued. Should I just subtract the amount of the indirect rollover from the total early distributions identified in my 1099_R? Seems like I should still somehow flag the transaction as indirect rollover somewhere in Turbotax.