I took $79,000 in traditional IRA distributions in 2018 but rolled $13,800 of that back into my IRA in 2018. Where do I report that $13,800 rollover?

Forum|Forum|7 years ago
June 2, 2019
1 reply
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The rollover was not mentioned on my 1099-R but it is reported on a Form 5498. I see no place in TurboTax to report info from Form 5498.

TurboTax Deluxe Windows

Best answer by DanaB27

Click "Wages & Income" on the top
Click "I'll choose what to work on"
Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
Answer "Yes" to the question "Did You Have Any of These Types of Income?"
Click "I'll Type it Myself"
Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account (or returned it into the same account)”
Then choose “I did a combination of rolling over, converting or cashing out the money.”
Enter the amount in the field next to “Amount rolled over to another (or back to the same) retirement account”

Please be aware that the whole distribution will show as income on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), only the amount that was not rolled over will show here.

DanaB27Answer

Level 15

Click "Wages & Income" on the top
Click "I'll choose what to work on"
Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
Answer "Yes" to the question "Did You Have Any of These Types of Income?"
Click "I'll Type it Myself"
Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account (or returned it into the same account)”
Then choose “I did a combination of rolling over, converting or cashing out the money.”
Enter the amount in the field next to “Amount rolled over to another (or back to the same) retirement account”

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deserttomlAuthor

Level 2

I actually figured this out myself after reviewing my return several times. I corrected it exactly as you suggested, just before receiving your answer. Thank you!