Yes, you do have to enter the form to show the rollover to the IRS. Just enter the form 1099-R into TurboTax and answer follow up questions. If code G is displayed in box 7, then the rollover and its nontaxable treatment is automatic. Otherwise, you will be asked what you did with the money and you can indicate that you moved money to another retirement account (must do so within 60 days). This will also ensure nontaxable income. The distribution is correctly included in total income, but not as taxable income.
Please
follow below steps to enter your 1099-R
- Federal Taxes
- Wages and Income
- Scroll down to Retirement
Plans and Social Security
- Select IRA, 401(k), Pension Plans (1099-R)
