Yes, you need to report the 1099-R form that you received from the payer. Enter it exactly as it is on your 1099-R
To enter it in TurboTax Online:
- Open your return.
- Select Federal, then Wages & Income.
- Scroll down to IRA, 401(k), Pension Plan Withdrawals (1099-R), under Retirement Plans and Social Security, select Start or Revisit to the right.
- Answer Yes to Did you get a 1099-R in 2023?
- Follow the screen instructions to enter the 1099-R form.
- When you get to Tell us if you moved the money through a rollover or conversion, select the answer that describes your situation.
- When you get to Did you roll over the gross amount of $XXX (Box 1) to another retirement account?, answer No and enter the actual amount rolled over.
- Answer the rest of the questions in the section.
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