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Not applicable
posted Feb 27, 2024 6:14:46 AM

I submitted my 1099-R for a rollover from a 401k to a rollover traditional IRA, and turbo tax calls it a taxable event. I know this is wrong, but there's nobody availabl

I won't use this to file taxes ever again if Intuit doesn't fix this blunder.

0 4 764
4 Replies
Level 15
Feb 27, 2024 6:49:25 AM

What is the Distribution Code in Box 7 of your 1099-R?

Level 15
Feb 27, 2024 8:15:07 AM

TurboTax correctly handles Forms 1099-R prepared correctly by the payer and entered correctly by the user.

 

In addition to posting here the code that is in box 7, is the IRA/SEP/SIMPLE box marked?

Is a nonzero amount shown in either box 2a or box 5?  If so, which box?

Expert Alumni
Feb 27, 2024 8:56:38 AM

I can help you correct your 1099-R to correctly report it as a non-taxable rollover.

 

  1. Log into TurboTax and bring up the 1099-R that you posted.
  2. Continue in the interview
  3. Do any of these situations apply to you? - None of these apply
  4. How much of the $XX,XXX was a RMD? - None
  5. Tell us if you moved the money through a rollover or conversion
    1. I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
  6. Did you roll over all of this $XX,XXX (Box 1) to another retirement account?
    1. Yes, I rolled over $XX,XXX to another traditional IRA or retirement account (or returned it to the same account).
  7. Complete the interview.

Now check your tax return.

 

  1. On the menu bar on the left that shows.
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar
  7. Select Preview my 1040.
  8. Schedules 1,2&3 are included if you scroll down past your 1040.
  9. To return to the entry screens press Back on the sidebar.

Your IRA distribution is on line 4a

Taxable amount is on 4b

 

@Anonymous

Level 15
Feb 27, 2024 8:58:29 AM

The reply provided by @JohnB5677 may or may not be accurate depending on the code that is in box 7 of the Form 1099-R.