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rayzola
New Member

1099-R roll over to IRA

roll over from 401k to ira.
5 Replies
IreneS
Intuit Alumni

1099-R roll over to IRA

Was the distribution a direct rollover to a traditional IRA?
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IreneS
Intuit Alumni

1099-R roll over to IRA

If you rolled over the 401k distribution to a traditional IRA, the distribution should not be taxable.  If you rolled over the 401k distribution to a Roth IRA, the distribution will be taxable.

If you took the funds out of the 401k yourself and then redeposited them into the IRA, make sure you indicate this in TurboTax.


To enter your 1099-R or review your 1099-R entries please follow these steps:

  1. Click on Federal Taxes > Wages & Income  [In TT Self-Employed:  Personal > Personal Income].
  2. Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R).  [See Screenshot #1, below.]
  3. If you've already entered one (or more) 1099-Rs, you will see a screen Your1099-R Entries.  Click on the Edit link next to the 1099-R you wish to review.  [Screenshot #2]
  4. If you haven't already entered a 1099-R, you will see the screen, Your 1099-R. Click Yes and then Continue. 
  5. You can either import your 1099-R or click on the I'll type it in myself box[Screenshot #3]
  6. If you select to enter the information yourself, continue through the screens, answering the interview questions.
  7. A few screens after the 1099-R input screen, you should see a screen, What Did You Do With The Money From 401k institution?  Mark the radio button next to I moved the money to another retirement account (or returned it to the same retirement account).   [Screenshot #4]
  8. Below the grey line, click the radio button next to I rolled over all of this money to an IRA or other retirement account (or returned it to the same account).  Click Continue.





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HMBar
New Member

1099-R roll over to IRA

Why does a rollover show as income if it was rolled over? Am I doing something wrong?

VolvoGirl
Level 15

1099-R roll over to IRA

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 and make sure it’s right.   For 1099R check 1040 line 4b/4d for any taxable amount.  If it was a rollover it should say ROLLOVER by it. 

HMBar
New Member

1099-R roll over to IRA

Thanks for the information.

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