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maymol
New Member

I did a rollover from my other pension plan, do I have to enter in this secction

 
1 Reply

I did a rollover from my other pension plan, do I have to enter in this secction

Yes, the 1099R needs to be shown and accounted for on your tax return.  

The tax impact will be $0, if the  Traditional 401K was rolled to a Traditional IRA.

If the money was rolled to a Roth IRA it is taxable. 

Double check this to see what it was rolled over to.  Also, make sure the code in box 7 is entered correctly. 

After the 1099R is entered, TurboTax will then ask you questions regarding it, to determine the correct tax on it.  

It will go under:

Federal Taxes

Wages and Income

Retirement Plan and Social Security

IRA, 401K, Pension Plans (1099R) you will click add or update. 

Make sure to carefully answer the questions following the 1099R entry.  Especially as to what type of retirement account it was rolled over to. 

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