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New Member
posted May 31, 2019 10:58:15 PM

How can I enter a rolled over 1099R within 60 days?

Received a 1099R from former employer.  Before 60 days I rolled over to my

traditional IRA .  How do I enter on form that it is not taxable? A check was issued

and I deposited in IRA.  There was tax withholding and I added that withheld amount to the rollover. Turbo Tax Home & Business Program

2 8 14427
1 Best answer
New Member
May 31, 2019 10:58:17 PM

Since you rolled over the retirement funds in a timely matter (within 60 calendar days of withdrawal.), you would enter your 1099-R in the Retirement Plans and Social Security section of TurboTax. 

Turbotax will show the distribution on Form 1040 Line 15A (for an IRA) with the word ROLLOVER next to it, and there will be no tax consequence.

Please see the image below that shows the screen, in TurboTax, where you would show the rollover designation.

To    enter your 2016 1099-R  and enter the IRA CONTRIBUTION FOR THE AMOUNT OF TAXES WITHHELD

  • Type 1099-r in the search box and click search.
  • Click on Jump to 1099-r.
  • At the choose your bank or brokerage screen, click on I'll type it in myself.
  • Enter your 1099-R form exactly as shown. If the form has Box 7 with code G, Rollover, TurboTax will automatically enter it as a Rollover on your income tax form.
  • If you form does not have Box 7 with code G, Rollover, on the What Did You Do With The Money From This Payer? screen, click on I moved the money....  and I rolled over all of the money... See Screenshot below.
  • Continue with the onscreen interview until you get to the How Much Money Did you Actually Deposit? screen. See Screenshot below.
  • Check the circle, Yes, I added XXX to the XXX i got (Total $XXX).
  • Continue with the onscreen interview.

8 Replies
New Member
May 31, 2019 10:58:17 PM

Since you rolled over the retirement funds in a timely matter (within 60 calendar days of withdrawal.), you would enter your 1099-R in the Retirement Plans and Social Security section of TurboTax. 

Turbotax will show the distribution on Form 1040 Line 15A (for an IRA) with the word ROLLOVER next to it, and there will be no tax consequence.

Please see the image below that shows the screen, in TurboTax, where you would show the rollover designation.

To    enter your 2016 1099-R  and enter the IRA CONTRIBUTION FOR THE AMOUNT OF TAXES WITHHELD

  • Type 1099-r in the search box and click search.
  • Click on Jump to 1099-r.
  • At the choose your bank or brokerage screen, click on I'll type it in myself.
  • Enter your 1099-R form exactly as shown. If the form has Box 7 with code G, Rollover, TurboTax will automatically enter it as a Rollover on your income tax form.
  • If you form does not have Box 7 with code G, Rollover, on the What Did You Do With The Money From This Payer? screen, click on I moved the money....  and I rolled over all of the money... See Screenshot below.
  • Continue with the onscreen interview until you get to the How Much Money Did you Actually Deposit? screen. See Screenshot below.
  • Check the circle, Yes, I added XXX to the XXX i got (Total $XXX).
  • Continue with the onscreen interview.

Level 2
Feb 7, 2021 9:56:42 AM

Thanks for the effort, but this did not fix my problem.

 

I have downloaded the 1099 from Fidelity, and the menu script never comes up with the question about what you did with the money.

 

I have deleted the 1099, and manually input the information, and it still doesn't come up with the question about what you did with the money.

 

 

Level 15
Feb 7, 2021 10:03:32 AM

Was it a RMD?  

Since there is no RMD required for 2020,  after you enter the 1099R say it was NOT an RMD and then that you rolled it over (even if back into the same account).  Was any withholding taken out?  If it was then did you replace the withholding with your own money?  Otherwise the withholding will be a taxable distribution itself. You will get credit for the withholding taken out. 

 

If you already entered the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form. 

 

Level 2
Feb 7, 2021 10:11:57 AM

Did that.  Deleted.  Reimported.  no luck.  deleted again.  entered manually.  No luck.  Will call TurboTax again for the 2nd time.

Level 1
Mar 3, 2021 12:26:52 PM

Help me enter my IRA 60 day rollover

Expert Alumni
Mar 3, 2021 12:36:50 PM

To enter your rollover, see Where do I enter an IRA rollover?

 

When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. By rolling over, you’re saving for your future and your money continues to grow tax-deferred.

 

 

Level 1
Apr 1, 2021 9:43:15 AM

I wan to enter my social secuity for 2020!

Level 15
Apr 1, 2021 9:44:46 AM

Enter a SSA-1099, SSA-1099-SM or RRB-1099 under

Federal Taxes on the left side or top

Wages and Income

Then scroll down to Retirement Plans and Social Security

Then the second line - Social Security (SSA-1099. RRB-1099) - click the Start or Revisit button