Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
jwhitesock
New Member

I transferred 401k money from two accounts to one account IRA traditional, I received two 1099 R's do I need to show this on tax form?

 
1 Best answer

Accepted Solutions
MinhT
Expert Alumni

I transferred 401k money from two accounts to one account IRA traditional, I received two 1099 R's do I need to show this on tax form?

Yes, you need to enter both forms 1099-R on your tax return. Rollovers are not taxable. 

After entering each 1099-R, answer the follow-up questions and these rollovers will not be 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"

View solution in original post

1 Reply
MinhT
Expert Alumni

I transferred 401k money from two accounts to one account IRA traditional, I received two 1099 R's do I need to show this on tax form?

Yes, you need to enter both forms 1099-R on your tax return. Rollovers are not taxable. 

After entering each 1099-R, answer the follow-up questions and these rollovers will not be 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"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~