Re: Problem with reporting IRA rollovers
Level 3

Retirement tax questions

This is a tricky one. I believe you can execute unlimited direct IRA rollovers but only one indirect IRA rollover (distribution taken but rolled over within 60 days) per year. If you rolled over two IRAs you can't try to report them as indirect rollovers in order to correct the wrong distribution code (only one would be allowed). In addition, Turbo Tax has a bug that does not ask what you did with the money so you can't use it to report them. I would say your options are to try the correct 1099R box, override the code 7 with a rollover code, file manually or consult an expert. Good luck!

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