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I withdrew from an IRA and rolled over a portion to another IRA. How do I show that?

 
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DavidS127
Expert Alumni

I withdrew from an IRA and rolled over a portion to another IRA. How do I show that?

If you used your IRA trustee to roll-over an amount from one traditional IRA to another, you'll get a 1099-R with a code G.  Enter that 1099-R into TurboTax and that's all you need to do.

 

If the withdrawal came directly to you (not direct in your plan or via your IRA trustee) you must re-deposit the withdrawal in the second IRA within 60 days.  You'll get a question from TurboTax asking if you did that, and how much.

 

To find the section to enter your 1099-R, click the "magnifying glass Search" icon on the top row, enter "1099r" in the search window and press return or enter, and then click on the "Jump to 1099r" link.

 

See the TurboTax article at this link for more information

 

See IRS Topic No. 413 at this link for the rollover rules.

 

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