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ajgratzl
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How do I show that an IRA distribution was rolled over to a different IRA

 
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2 Replies

How do I show that an IRA distribution was rolled over to a different IRA

Did you get a 1099R from the first IRA?   What code is in box 7?   After you enter the 1099R it will ask what you did with it.   Say you moved it to another account.   You had 60 days to roll it into another account.   Did they take any taxes out of it?   

ajgratzl
New Member

How do I show that an IRA distribution was rolled over to a different IRA

Thanks for your reply.  I did receive form 1099 R  and entered the info into Turbo Tax as directed.  The problem is that the company issuing the  1099 R had no official way of knowing that I reinvested all of the distribution into another IRA, and Turbo Tax did not have a question asking if the distribution was reinvested.  I asked "Ask Gemini" (Google's AI) how to deal with this, and basically the solution was to put zero (0) in box 2a (Taxable Amount) even though the actual 1099 R had the total amount of the distribution in 2a.  After doing this Turbo Tax provided a box asking how much was roll over.  Not happy that Turbo Tax doesn't have a meaningful free help desk for simple issues like this.  I plan on using a different vendor next year.

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