Does anyone know why I am being taxed for my retirement rollover? I transferred to a traditional IRA within 60 days but my tax due jumped way up when I added my 1099-R.

[NCperson]

@ylinkab how much is on Line 2a of form 1099-R?

during the interview, TT asks "what did you do with the money"?  how did you answer that question? 

suggest deleting form 1099-R and re-entering and watch for that question. 

did you contribute the same about of money as what was reported in Box 2a? Normally the administrator will withhold 20%.  So for example, if you distributed $10,000, only $8,000 is in the check.  Then when you turn around and contribute that $8,000 check to the new Trad IRA, the remaining $2,000 is taxable income.  That could be the issue.  

[MindyB]

Yes, it sounds like you added the 1099-R, but may need to revisit the entry to answer al the interview questions that come after entering the data. ‌Here are the steps to indicate the rollover in TurboTax Online:

• Navigate to Federal >Income > Wages & Income Summary > Retirement Plans and Social Security > IRA, 401(k), Pension Plan Withdrawals (1099-R) Start/Revisit
• Indicate you received a 1099-R and choose to enter a different way on the import screen to manually enter
• Enter the information from the 1099-R, continue through the interview questions.
• You will come to a screen that says "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)"
• On the next screen, indicate you rolled over the entire amount to another retirement account.