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Did you put it in the IRA within 60 days? That is a Rollover.After you enter the 1099R it will ask you some follow up questions.
Pick I moved it to another retirement account even if you put it back into the same account.
Then choose - I did a combination of rolling over, converting or cashing out the money
Did the 401K take any tax withholding out? If they did you needed to put the full gross amount (before tax withholding) into the IRA. If you didn’t replace the withholding with your own money then the withholding became a taxable distribution and have the 10% Early Withdrawal Penalty.
Check your 1040 line 5. Line 5b should have the word Rollover by it.
Continue through all of the interview screens after you enter your 1099-R; there are follow-ups questions that have to be answered. If you indicate that you rolled the money over within 60 days, the distribution won't be taxable. But you need to go through all of questions first.
If taxes were withheld in box 4 of your form, they'll either be added to your refund or applied to your tax liability.
Exceptions to 401K Early Withdraw Penalty
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