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
Level 2
posted Apr 12, 2025 7:48:10 AM

I am the beneficiary of my aunt's annuity after she passed. I received a 1099-R. In line 5b of my 1040, TurboTax added "ROLLOVER" to the taxable amount. Is this correct?

0 6 1067
6 Replies
Expert Alumni
Apr 12, 2025 9:45:18 AM

What is your code in Box 7?  You may want to go through the entry to see if you indicated that you rolled it into another retirement account.

Level 2
Apr 12, 2025 10:04:57 AM

The code is 4D. I took it as a lump sum payment and did not roll it over. TurboTax is automatically populating it with “ROLLOVER”

Level 15
Apr 12, 2025 11:50:03 AM

A distribution reported with codes 4 and D in box 7 is ineligible for rollover.  It would seem that either the ROLLOVER notation is coming from the entry of some other Form 1099-R or you have mistakenly omitted the code D as the second code when entering this Form 1099-R.

 

I suggest deleting this 1099-R form from TurboTax and seeing if the ROLLOVER notation disappears, then reentering this Form 1099-R manually, making sure that you indicate that box 7 has more than one code and indicating that the second code is code D.

Level 2
Apr 12, 2025 12:15:55 PM

I deleted that 1099R but ROLLOVER did not disappear. I have 2 other 1099R forms. I transferred my 403b and Roth 403b from my former employer to another institution. There is no taxable amount for both; Box 2a is zero. The 1099R For the 403b has code G for Box 7. The 1099R for the Roth has code H for Box 7. I don’t think that these two would trigger a ROLLOVER in the 1040. 

Level 15
Apr 12, 2025 12:59:01 PM

The ROLLOVER notation is from the entry of the code G and code H Forms 1099-R.  Both of these report direct rollovers.

Level 2
Apr 13, 2025 4:30:53 AM

Thanks @dmertz! That makes sense! Thanks @MaryK4!