turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

DO I NEED TO LIST A 401K ROLLOVER (INTO ANOTHER 401K) UNDER "IRA, 401(k), Pension Plan Withdrawals"?

I WENT THROUGH THE AUTOMATED NOTION OF INPUTTING MY 1099-R. IT'S ROLLED OVER INTO ANOTHER 401K. I'M CONFUSED WHY IT'S REFLECTED AS "IRA, 401(k), Pension Plan Withdrawals". Is this being counted as recognized income?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT1
Employee Tax Expert

DO I NEED TO LIST A 401K ROLLOVER (INTO ANOTHER 401K) UNDER "IRA, 401(k), Pension Plan Withdrawals"?

A rollover from a 401(k) account to another 401(k) is not taxable but you have to report the form 1099-R on your tax return.

 

 

In TurboTax Online, enter your form 1099-R by following these steps:

  1. Open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income
  3. Navigate to the list of income categories
  4. Locate the section Retirement Plans and Social Security and click on the arrow on the right
  5. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
  6. Enter your form 1099-R and follow the interview
  7. When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question