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Retirement tax questions
Yes, it does. You should get a Form 1099-R from your State Retirement custodian.
- 60-day rollover – If a distribution from an IRA or a retirement plan is paid directly to you, you can deposit all or a portion of it in an IRA or a retirement plan within 60 days. Taxes will be withheld from a distribution from a retirement plan (see below), so you’ll have to use other funds to roll over the full amount of the distribution.
To enter the information, follow these steps:
- Type “1099-R” in the Search box.
- Select the "Jump to" link in the search results.
- Enter the information from your 1099-R form and continue.
- At the What did you do with the money? screen, select I moved the money to another retirement account.
- From the drop-down list, select the rolled over option and continue.
If taxes were withheld in Box 4 of your form, they'll either be added to your refund or applied to your tax liability.
Related Information:
- Where do I enter my 1099-R?
- What's the difference between a direct vs. an indirect rollover?
- When is the 60-day IRA rollover requirement waived?
[Edited 3-12-2020|12:28 pm PST]
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June 6, 2019
2:00 AM