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Retirement tax questions
No- do not delete the 1099-R.
You can indicate that the funds were rolled over into another IRA in the screens following the 1099-R entry screen. Please follow these steps:
- Go back into the 1099-R entry screen.
- After the 1099-R entry screen, you will see a screen What Did You Do With The Money From IRA? Mark the button that you moved the money to another retirement account.
- In the section, Choose which of the following applies:
- If you put back the entire distribution (which includes the amount of withholding), choose the first option -- "rolled over all of this money to another traditional IRA or other retirement account (or returned it to the same account)."
- If you put back the net amount your received (minus the withholding), select the third option-- "did a combination of rolling over, converting, or cashing out the money." [You will be asked how much of the distribution was rolled over]
- If you indicated that you put back the entire amount, TurboTax will confirm the actual amount that you put back-- How Much Money Did You Actually Deposit?
- If you indicated that you did not put back the withholding, on the next screen, Report Partial Rollover, enter the net amount you put back. [If you don't put anything in this box, TurboTax will tax the entire distribution.]
[Edited | 4/15/2020 | 8:10am PDT]
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‎June 3, 2019
12:32 PM
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