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New Member
posted May 31, 2019 10:41:19 PM

Had taxes taken out on the 1099r form and rolled over the distribution into another ira do I still owe more taxes?

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1 Best answer
New Member
May 31, 2019 10:41:21 PM

Rollovers are 100% tax-free, unless you converted to a Roth in the process.  

You should have received a 1099-R. Enter it exactly as printed, including box 7. Go to:

Federal Taxes (top menu)

Click Income & Expenses (just below top menu)

Scroll down to Retirement Plans and Social Security and click Show More (if necessary)

Enter the 1099-R form.  Hopefully the code is G (direct rollover).  If not, take these additional steps:

At the What Did You Do with The Money screen indicate that I moved the money to an IRA or another retirement account and then select rolled over.

There should be no impact on your taxes.

3 Replies
New Member
May 31, 2019 10:41:20 PM

All steps are there except the final question what did you do with they money.  It asked if it was put in a Roth IRA or a Health Plan but it does not give you an option for roll over to another retirement plan.

New Member
May 31, 2019 10:41:21 PM

Rollovers are 100% tax-free, unless you converted to a Roth in the process.  

You should have received a 1099-R. Enter it exactly as printed, including box 7. Go to:

Federal Taxes (top menu)

Click Income & Expenses (just below top menu)

Scroll down to Retirement Plans and Social Security and click Show More (if necessary)

Enter the 1099-R form.  Hopefully the code is G (direct rollover).  If not, take these additional steps:

At the What Did You Do with The Money screen indicate that I moved the money to an IRA or another retirement account and then select rolled over.

There should be no impact on your taxes.

New Member
May 31, 2019 10:41:22 PM

Thank  you.  My issue seems to be that it asks a Question afterwards that when i answer it changes everything one way or the other.