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401k rollover showing as a 1099R and shows up on income?
posted
4 weeks ago
last updated
February 15, 2025
1:30 PM
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401k rollover showing as a 1099R and shows up on income?
Yes, the 1099-R is taxable, until you indicate you performed a rollover.
You can do this by revisiting the 1099-R section in TurboTax Online. After entering the data, you will come to a screen with the heading "Tell us if you moved the money through a rollover or conversion"
- Select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
- Next screen will ask "Did you roll over all of this $8,000.00 (Box 1) to another retirement account?", select "Yes, I rolled over $xx to another traditional IRA or retirement account (or returned it to the same account."
4 weeks ago
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