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I have a Contributory IRA that matured. I had the bank to a direct transfer..with in same year..do I show this on my return and if I do where…ty

It was also an IRA
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2 Replies
ColeenD3
Expert Alumni

I have a Contributory IRA that matured. I had the bank to a direct transfer..with in same year..do I show this on my return and if I do where…ty

If you made a trustee to trustee transfer, you should have a Code G on your 1099-R. Just enter the form exactly as it appears.

 

Here's how to enter your 1099-R:

  1. Open (continue) your return if you don't already have it open
  2. Search for 1099-R and select the Jump to link in the search results
  3. Answer Yes on the Did you get a 1099-R? screen
    • If you land on the Review your 1099-R info screen instead, select Add Another 1099-R
  4. Answer any questions until you get to the import screen. You'll be prompted to enter your financial institution account info and TurboTax will directly import your forms
    • If you prefer to type it in yourself, select Change how I enter my form and continue through

 

 

dmertz
Level 15

I have a Contributory IRA that matured. I had the bank to a direct transfer..with in same year..do I show this on my return and if I do where…ty

A properly performed trustee-to-trustee transfer of one IRA to another is not reportable and you should not receive any Form 1099-R for this transaction.

 

Code G on a Form 1099-R is never to be used to report movement of one IRA to another IRA.

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