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
New Member
posted May 31, 2019 8:00:44 PM

I received a disbursement from a pension plan (4526.58) and had the money rolled into my 401K with the same employer I received a 1099R. I was told this is not taxable is that correct?

0 2 825
2 Replies
Level 15
May 31, 2019 8:00:45 PM

It depends. You enter the 1099-R *EXACTLY* as printed. Then on the screens that follow, read EVERY word and make the property selections. The small print matters, big time. If unsure of anything after doing this, just post back and we'll need to know the code or codes in box 7 of your 1099-R, in order to assist you more effectively.

Level 15
May 31, 2019 8:00:47 PM

Enter the Form 1099-R as received and in the follow-up questions indicate that you moved the money to another retirement account (or back to the same account) and that you rolled over all of the money.  TurboTax will place the gross amount on Form 1040 line 16a (or Form 1040A line 12a) but will exclude this amount from the taxable amount on line 16b (or 12b).  TurboTax will also put the word "ROLLOVER" next to this line.