It appears that you have a non-taxable "rollover", as well as your required minimum distribution (RMD) to enter in TurboTax.
To clarify, your Form 1099-R will not typically list your RMD. It will list your total distribution from your account.
Additionally, if you moved money from one company to another, that would typically be considered a "rollover" and not a taxable distribution.
Let's address your "rollover" first:
Review your Form 1099-Rs, looking for Box 7, Code G (non-Roth) or Code H. If you see either of these codes in Box 7 of your Form, this is your "rollover" Form 1099-R.
For your normal distribution Form 1099-R, look for Box 7, Code 7 (non-Roth), or Code B (Roth)
To report your Form 1099-R with Code G/H that reflects your non-taxable transfer of funds "rollover" in TurboTax, do the following:
- Go to Wages & Income
- Scroll down to Retirement Plans and Social Security and click the down arrow
- Select IRA, 401(k)...(1099-R) and click Start
- Click Add a 1099-R
- Answer the questions regarding the 1099-R, ensuring you complete each box correctly
- Click on Continue
- On the, "Tell us if you moved the money through a rollover or conversion", select, "I rolled over...to another retirement account"
- On the, "Did you roll over all of the $ (Box 1) to another retirement account?" select, "Yes, I rolled over $...to a retirement account"
Now, let's address how to report your Form 1099-R, Code 7/B that reflects your normal distribution (including your RMD:(
- Follow steps 1-6 above
- Continue through until you reach, "Let's get more information about your Required Minimum Distribution (RMD)", enter your RMD
- How much of the distribution applied to your December 31, 2025 RMD? Choose whether entire, or "some of this distribution applied..."
- You will reach "Review your 1099-R summary", press Continue (not the pencil) and additional questions will generate for you to answer
- When you reach "Let's go over any required minimum distributions (RMD)", Continue (not the pencil)
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