Do I pay tax on rollover IRA? Got 1099-R & 5498, but TT says higher tax & penalty for early w/d & doesn't ask about rollover. Says don't enter info from 5498.

Wife worked for school district & rolled over retirement account after leaving. Entered 1099-R and says I will owe more taxes, but doesn't ask about rollover (form 5498).

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As you go through the IRA section of the program it will ask you "What Did You Do With The Money From [Retirement Plan]"? Be sure you indicate that you "rolled over all of this money to an IRA or other retirement account (or returned it to the same account)."

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