I switched employers and my 401k was directly rolled from Principal to Empower. No money was paid out. How do I report this in TurboTax so I don't end up owing tax?

posted

If you received a 1099-R, you will simply enter the 1099-R and then continue through the steps. You should have code G in box 7 which will tell TurboTax that it was a direct rollover. After you enter your form you will be asked additional questions to verify that it was rolled over. This will keep the rollover from being taxed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"