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New Member
posted Jun 3, 2019 12:32:19 PM

1099-R SHOWS MY DISTRIBUTION AS TAXABLE BUT I ROLLED IT OVER TO ANOTHER IRA PLAN CAN I JUST DELETE AND SAY ZERO

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1 Best answer
Intuit Alumni
Jun 3, 2019 12:32:21 PM

No- do not delete the 1099-R.

You can indicate that the funds were rolled over into another IRA in the screens following the 1099-R entry screen.   Please follow these steps:

  1. Go back into the 1099-R entry screen.
  2. After the 1099-R entry screen, you will see a screen What Did You Do With The Money From IRA?   Mark the button that you moved the money to another retirement account. 
  3. In the section, Choose which of the following applies: 
  • If you put back the entire distribution (which includes the amount of withholding), choose the first option -- "rolled over all of this money to another traditional IRA or other retirement account (or returned it to the same account)." 
  • If you put back the net amount your received (minus the withholding), select the third option-- "did a combination of rolling over, converting, or cashing out the money."  [You will be asked how much of the distribution was rolled over]

 

  • If you indicated that you put back the entire amount, TurboTax will confirm the actual amount that you put back-- How Much Money Did You Actually Deposit?       
  • If you indicated that you did not put back the withholding, on the next screen, Report Partial Rollover, enter the net amount you put back.  [If you don't put anything in this box, TurboTax will tax the entire distribution.]

 

[Edited | 4/15/2020 | 8:10am PDT]



2 Replies
Intuit Alumni
Jun 3, 2019 12:32:21 PM

No- do not delete the 1099-R.

You can indicate that the funds were rolled over into another IRA in the screens following the 1099-R entry screen.   Please follow these steps:

  1. Go back into the 1099-R entry screen.
  2. After the 1099-R entry screen, you will see a screen What Did You Do With The Money From IRA?   Mark the button that you moved the money to another retirement account. 
  3. In the section, Choose which of the following applies: 
  • If you put back the entire distribution (which includes the amount of withholding), choose the first option -- "rolled over all of this money to another traditional IRA or other retirement account (or returned it to the same account)." 
  • If you put back the net amount your received (minus the withholding), select the third option-- "did a combination of rolling over, converting, or cashing out the money."  [You will be asked how much of the distribution was rolled over]

 

  • If you indicated that you put back the entire amount, TurboTax will confirm the actual amount that you put back-- How Much Money Did You Actually Deposit?       
  • If you indicated that you did not put back the withholding, on the next screen, Report Partial Rollover, enter the net amount you put back.  [If you don't put anything in this box, TurboTax will tax the entire distribution.]

 

[Edited | 4/15/2020 | 8:10am PDT]



New Member
Oct 15, 2020 12:02:58 AM

simply not getting the question. "what did you do with the money".    Im seeing quite a few respondents with the same recurring problem and this is a Turbotax issue.  My wife received a 1099R from Transamerica when she left her employer and his 401K plan.  She was careful to have the check made out to TDAmeritrade Rollover IRA, and deposited it immediately. We have checked every box thoroughly, and yes code G is present on the 1099R-still didnt get picked up by Turbotax as an obvious rollover, never prompted us for the receiving custodians name and account number.   So we are going to have an error.  Pretty bad.