Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 1, 2025 2:07:27 PM

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

0 1 483
1 Best answer
Level 15
Feb 1, 2025 3:23:46 PM

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.

1 Replies
Level 15
Feb 1, 2025 3:23:46 PM

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.