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wtdowns
New Member

I had a partial IRA rollover back to the account it was taken from. Should the taxable amount on the 1099-R be reduced by the amount of the rollover?

 
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1 Reply
DanaB27
Expert Alumni

I had a partial IRA rollover back to the account it was taken from. Should the taxable amount on the 1099-R be reduced by the amount of the rollover?

Yes, you can indicate in the follow-up question that it was rolled over in the same account. 

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R” and enter your 1099-R
  4. Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
  5. Continue answering the questions.

 

 

You can verify your entry by looking at your Form 1040 line 4:

 

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left
  5. Only the amount distributed to you will be shown on line 4b as taxable.
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