IreneS
Intuit Alumni

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:

  1. Go back into the 1099-R entry screen.
  2. 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
  3. 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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