1066874
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

gijeff58
New Member

1099-R

Why does Turbo Tax ask what I did with my money from my military retirement (1099-R) when its just deposited into my checking account?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
AnnetteB6
Expert Alumni

1099-R

The purpose of that question is to be sure that you did not rollover the distribution into another retirement plan.  If that was the case, then there would be more follow-up questions related to a rollover.

 

If you just deposited the money into your checking account, then just choose that you 'did something else' with it and move forward.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Mng
Level 1

1099-R

IF it is a direct rollover, then it's not taxable...therefore why does Turbo Tax need to ask the zip code of the new retirement plan?

Mng
Level 1

1099-R

Also, it was a direct rollover to another retirement plan, the questions asked are not provided on the 1099-R - which only provides Payer's name.  

CatinaT1
Expert Alumni

1099-R

If it was a direct rollover, there should be a code G in box 7 of your 1099R.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question