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.

Does a rollover from a pension into a traditional IRA count as a contribution?

 
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.

2 Replies
AmyC
Expert Alumni

Does a rollover from a pension into a traditional IRA count as a contribution?

No, it is just a rollover.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Does a rollover from a pension into a traditional IRA count as a contribution?

No.  Only enter it from the 1099R, nowhere else.   Do not enter it under Deductions as a new contribution.   After you enter the 1099R it will ask what you did with it.  

Pick I moved it to another retirement account even if you put it back into the same account.

 

Oh what code is in box 7?

 

If you returned it within 60 days, it is not taxable unless you didn’t replace any withholding that might have been taken out.  Then the withholding becomes a distribution.  

Is it a pension or a 401K?   You normally can not roll over a pension to a IRA.  

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question