I received a1099R for $8,100 but rolled over $6,600. How should I handle this in Trubotax as to not get taxed on the $8,100 but the $1,500?

[macuser_22 · Accepted solution]

Enter a 1099-R here:

Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

If this was a IRA rollover or conversion, answer the question that you moved the money to another retirement account (can be the same account). The screen will open up with choices of where it was moved.  Say that you did a combination of things.  In the top box enter the amount rolled over and leave the bottom box (Roth conversion) blank.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

It will show as income on the summary screen which shows gross income, not taxable income.

The income will be reported on line 15a or 16a on the 1040 form (depending on the type of account) with the word “ROLLOVER” next to it if it was a rollover.

The taxable amount will go on line 15b or 16b.  In the case of a partial rollover, that amount will  the amount that was not rolled over and is taxable.

[stephen9]

Great answer but the Form 1040 lists the IRA total distribution of $8,100 as a ROLLOVER vs. the actual $6600 I rolled over leaving a taxable distribution of $1,500.   This does not seem correct.

[macuser_22]

Line 15a or 16a is the gross (box 1) amount,  line 15b or 16b is the taxable amount which should be the $1,500.   Line 15 or 16 depends on the type of account.    The entire box 1 amount is always on the "a" line - if any part of that is rolled over the word ROLLOVER will be next to to.  It is understood that if the "b" line has an amount then that part of the "a" line was not rolled over.