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Yes you will need to report this 1099-MISC on your tax return even though it is a rollover distribution.
Because you received a 1099-R, the IRS will also have received a copy of this 1099-R. You will need to report this 1099-R distribution on your tax return but none of it will be taxable. Just make sure that when you are reporting this information into TurboTax that for the question "What Did You Do With The Money From (your retirement fund)?", answer "I moved the money to another retirement account (or returned it to the same retirement account)" (see screenshot)
To enter your 1099- R in TurboTax Online or Desktop, please follow these steps:
Please note that all distributions will be reported on your tax return (whether or not they are taxable) on Form 1040 on line 15(a) (or 16(a) but only the taxable portion will show on your return as taxable on line 15(b) (or 16(b)).
To preview 1040 in TurboTax Online:
Yes. You are required to report the 1099-R on your taxes. The IRS already has a copy of it, and if you don't report it you can expect a nasty-gram from the IRS. Enter the 1099-R *EXACTLY* as printed. Then I can not stress enough how *IMPORTANT* it is that you pay close attention to detail on the screens that will follow so that if you rolled it, you're not taxed and/or penalized on it.
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