1099-R has a "7" in box 7. Have a 5498 to fix. How do I adjust in Turbo Tax

[kpowers6]

1099-R box 7 is a "7" and should be a 6. Money (partial dist) was rolled over from an Annuity to an IRA. A 5498 was issued for the correction. Do I simply change box 7 to a 6?? How do I correct this in turbo tax since you can't submit a 5498

[ThomasM125 · Accepted solution]

No, you can leave the code 7 in box 7 and when asked, say that you rolled the contribution over to an IRA or other retirement account within the time limits (normally 60 days.) That way the distribution won't show as taxable on your tax return.