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Retirement tax questions
To enter the information from your 1099-R in TurboTax, and indicate that you rolled over the distribution, please follow these steps:
- Click on Federal Taxes > Wages & Income [In TT Self-Employed: Personal > Personal Income].
- Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R). [See Screenshot #1, below.]
- If you've already entered one (or more) 1099-Rs, you will see a screen Your1099-R Entries. Click on the link Add Another 1099-R. [Screenshot #2]
- If you haven't already entered a 1099-R, you will see the screen, Your 1099-R. Click Yes and then Continue.
- You can either import your 1099-R or click on the I'll type it in myself box. [Screenshot #3]
- Be sure to include the federal tax withheld in box 4 on the 1099-R entry screen.
- A few screens after the 1099-R entry screen you will see a screen, What Did You Do With The Money From This Payer? Mark the button [You] moved the money to another retirement account (or returned it to the same retirement account). [Screenshot #4]
- In the Choose which of the following applies section, select the appropriate answer. In your case it sounds like the first option applies: [You] rolled over all of this money to an IRA or other retirement account (or returned it to the same account).
- Click Continue.
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‎June 3, 2019
1:52 PM