I HAVE A RETIREMENT PAYMENT AND ROLLOVER TO REPORT

Forum|Forum|3 months ago
April 15, 2026
1 reply
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WHERE DO I REPORT A PAYMENT AND ROLLOVER

TurboTax Online

MaryK4

Level 15

In TurboTax, you report both the payment (distribution) and the rollover in the 1099-R section. Even if you moved the money directly to another account, you must enter the 1099-R form provided by your financial institution to tell the IRS the transaction was non-taxable.

Where to enter in TurboTax

Open your return and go to the Federal tab.
Select Wages & Income.
Scroll down to Retirement Plans and Social Security and click Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
Follow the prompts to enter the details exactly as they appear on your Form 1099-R.

How to designate it as a Rollover

After you enter the 1099-R details (Boxes 1, 2a, and 7), TurboTax will ask a series of follow-up questions:

"What did you do with the money?": Select the option that says "I moved the money to another retirement account (or returned it to the same account)."
"Was this a rollover?": Select "Yes, I rolled over [Amount] to another qualified retirement account."
Direct vs. Indirect:
- Select Direct Rollover if the check was made out to the new financial institution.
- Select Indirect Rollover if the check was made out to you and you deposited it into a new account within 60 days.

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