1099-R Direct Rollover "Where is this distribution from?"

Forum|Forum|3 years ago
March 4, 2023
7 replies
39 views

My wife did three direct rollovers from different retirement accounts. She is 49.

After entering all of the information on the 1099-R forms, TurboTax is asking "Where is this distribution from?" and gives several options to select from (including 'none of the above). It also states that "Your answer here will determine if all or part of your pension income is excludable on your Michigan state return."

One of the options to select is "Pension/IRA distribution received before retirement age." Because this is a direct rollover into another retirement account, I would NOT select this. Correct?

Thanks for your help.

Best answer by VolvoGirl

My TurboTax doesn't look quite like that. That menu says:

Personal Info
Business
Personal
State Taxes
Review
File

I poked around, but was not able to find an option to "preview my 1040." I hope I'm not just missing something obvious.

For 1099R.....If you edit or review a 1099R it does not keep your answers from before but resets them to the defaults. Then you have to go through and answer them all again. So be sure to go all the way to the end of the 1099R section. They are right unless you go back. So you probably should go back and double check all of them.

TO PREVIEW

Switch to Forms. Click Forms in the upper right (left for Mac). Then open the 1040 from the left column. And you can look around at all the forms.

JohnB5677

Level 15

Correct. do not select "Pension/IRA distribution received before retirement age."

What code do you have in Box 7. It may be 1 or 2. This indicates an early distribution, but that's Okay.

Go back to where you posted the 1099-R. then.

Do you have info in Box 2a or Box 2b? - Yes/No
Is the IRA/SEP/SIMPLE box on this 1099-R checked? Yes/No
Do any of these situations apply to you? None of the above.
Tell us if Cynthia moved the money through a rollover or conversion.
- I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
- I converted some or all of it to a Roth IRA
- I did a combination of rolling over and converting some or all of this money.
- I didn't rollover or convert this money.
Did Cynthia rollover all of this $3,400.00 (Box 1) to another retirement account? Yes/NO/Else