How do I tell turbo tax that I rolled over an IRA by taking a cash withdrawal and then depositing it into another account? My 1099R shows it as a withdrawal code 7.

Forum|Forum|7 years ago
June 5, 2019
1 reply
12 views

I withdrew the entire IRA from one bank and within the month deposited in another IRA. My form 1099R from the withdrawal shows code 7, entirely taxable. I cannot find in turbo tax anywhere to tell it that it was a rollover. A search in help says I will be asked how I used the money, but I never get such a question.

TurboTax Premier Windows

Best answer by IsabellaG

After you enter your 1099-R you will be asked "What did you do with the money from this payer?" See the screenshot below. If you check you moved it to another retirement account, you'll see a drop down, and you can enter that you rolled all of it over.

Go through the 1099-R section again and see the screens. If you don't see it, delete your 1099-R and re-enter it, and keep going past the questions that follow until you see that screen.

IsabellaGAnswer

Level 13

Go through the 1099-R section again and see the screens. If you don't see it, delete your 1099-R and re-enter it, and keep going past the questions that follow until you see that screen.

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