3475323
You'll need to sign in or create an account to connect with an expert.
If you received a Form 1099-R where the gross amount in box 1 is the amount distributed plus the amount moved to the new IRA, you did a partial rollover. To report that you would indicate that you moved the money to another retirement account, you rolled over part of the money, then indicate the amount rolled over. TurboTax will include the gross amount on Form 1040 line 4a but exclude with the ROLLOVER notation the amount rolled over from the taxable amount on line 4b.
If instead the Form 1099-R reports only the amount distributed and not the amount moved to the new IRA, just report the amount has having been cashed out.
If you received a Form 1099-R where the gross amount in box 1 is the amount distributed plus the amount moved to the new IRA, you did a partial rollover. To report that you would indicate that you moved the money to another retirement account, you rolled over part of the money, then indicate the amount rolled over. TurboTax will include the gross amount on Form 1040 line 4a but exclude with the ROLLOVER notation the amount rolled over from the taxable amount on line 4b.
If instead the Form 1099-R reports only the amount distributed and not the amount moved to the new IRA, just report the amount has having been cashed out.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
beyondbackpack
Level 1
brandon-quam
New Member
jimchristo13
New Member
dayala0117
New Member
J3145
Level 2