Where do I file the amount I rolled over to a money market IRA

Forum|Forum|7 years ago
June 6, 2019
2 replies
34 views

My husband passed away I received a small amt but rolled over the rest into a money market IRA traditional the funds came from a trust fund

TurboTax Deluxe Online

SweetieJean

Alumni - Champ

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Anonymous

I'm so sorry for your loss.

Yes, you have to report the 1099-R to the IRS and let them know it is a Rollover. You do this through your income tax return.

Provided you rolled the IRA in a timely matter (within 60 calendar days of withdrawal.), you would enter your 1099-R in the Retirement Plans and Social Security section of TurboTax.

Turbotax will show the distribution on Form 1040 Line 15A (for an IRA) with the word ROLLOVER next to it, and there will be no tax consequence.

To enter your 2016 1099-R:

Type 1099-r in the search box and click search.
Click on Jump to 1099-r.
At the choose your bank or brokerage screen, click on I'll type it in myself.
Enter your 1099-R form exactly as shown. If the form has Box 7 with code G, Rollover, TurboTax will automatically enter it as a Rollover on your income tax form.
If you form does not have Box 7 with code G, Rollover, on the What Did You Do With The Money From This Payer? screen, click on I moved the money.... and I rolled over all of the money... See Screenshot below.
Continue with on onscreen instructions.