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esue
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How do i indicate that my disbursement from a 402(b) plan was rolled over into an IRA?

 
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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

How do i indicate that my disbursement from a 402(b) plan was rolled over into an IRA?

I assume that you mean 403(b) since there is no such thing as a 402(b) plan.

 

If the rollover was a direct rollover, the plan will report it on a Form 1099-R with code G that you must enter into TurboTax.  After answering No to the questions that ask if it was rolled over to some type of Roth account, TurboTax will treat it as a nontaxable rollover and exclude it from the amount on Form 1040 line 5b with the ROLLOVER notation.

 

If the rollover was an indirect rollover reported with code 1, 2 or 7 on the Form 1099-R, after entering the form details you must indicate that the distribution was moved to another retirement account and indicate the amount rolled over.

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1 Reply
dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

How do i indicate that my disbursement from a 402(b) plan was rolled over into an IRA?

I assume that you mean 403(b) since there is no such thing as a 402(b) plan.

 

If the rollover was a direct rollover, the plan will report it on a Form 1099-R with code G that you must enter into TurboTax.  After answering No to the questions that ask if it was rolled over to some type of Roth account, TurboTax will treat it as a nontaxable rollover and exclude it from the amount on Form 1040 line 5b with the ROLLOVER notation.

 

If the rollover was an indirect rollover reported with code 1, 2 or 7 on the Form 1099-R, after entering the form details you must indicate that the distribution was moved to another retirement account and indicate the amount rolled over.

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