Just check to make sure one of the 1099-Rs is not a corrected 1099-R. If one of the 1099-Rs is indicated as correct (usually the box up on the top of the 1099-R will be marked if it is a corrected version), then only enter the corrected 1099-R.
You may want to contact the provider of your 1099-Rs to ask if one is a corrected 1099-R.
However, if you were issued 2 1099-Rs related to the rollover and neither is a corrected copy, just enter them both because that means that the IRS also received 2 copies.
Because you received a 1099-R, the IRS will also have received a copy of this 1099-R. You will need to report this 1099-R distribution on your tax return but none of it will be taxable. Just make sure that when you are reporting this information into TurboTax that for the question "What Did You Do With The Money From (your retirement fund)?", answer "I moved the money to another retirement account (or returned it to the same retirement account)" (see screenshot)
To enter your 1099- R in TurboTax Online or Desktop, please follow these steps:
- Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
- Next click on “Wages and Income” ("Personal Income" in TurboTax Home & Business)
- Next click on "jump to full list" or “I’ll choose what I work on”
- Scroll down the screen until to come to the section “Retirement Plans and Social Security”
- Choose "show more", then IRA, 401(k),Pension Plans (1099-R) and follow the onscreen instructions
Please note that all distributions will be reported on your tax return (whether or not they are taxable) on Form 1040 on line 15(a) (or 16(a) but only the taxable portion will show on your return as taxable on line 15(b) (or 16(b)).
To preview 1040 in TurboTax Online:
- Sign into https://myturbotax.intuit.com/
- Under Tax Timeline, click on Continue your return
- Go to "My Account" > "Tools"
- Under the Tools Center, select "view tax summary"
- Select "Preview my 1040"