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Do I need to report retirement rollovers if I am not taking a withdrawal from the rollover?

When I report  the amount we are contributing to work-sponsored 401K, turbotax says we are paying too much.
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2 Replies
DanaB27
Employee Tax Expert

Do I need to report retirement rollovers if I am not taking a withdrawal from the rollover?

Yes, you will have to enter the 1099-R you received for this rollover. Please do not enter it as an IRA contribution under Deduction & Credits.

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R”  and enter your information
  4. Answer all follow-up questions carefully.
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Do I need to report retirement rollovers if I am not taking a withdrawal from the rollover?

Thank you! You answered two questions for me. 🙂

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