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I withdrew my sate employee retirement, but only reinvested a small amount of it how do i show that on my taxes.

 
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MichaelMc
New Member

I withdrew my sate employee retirement, but only reinvested a small amount of it how do i show that on my taxes.

Your Form 1099-R must report the full amount of any distribution. How that distribution is treated will be determined by the code(s) in Box 7 and by how you enter the data into TurboTax.

The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.

Then answer Yes, click Continue, and follow the on-screen instructions to either import or type in your 1099-R form.

  • Watch for a screen that asks What did you do with the money from [custodian's name]? 
  • On that screen, select the option "I moved the money to another retirement account," then choose the appropriate option from the three choices. 
  • If you only rolled over part of the distribution, select the third option. Fill in the appropriate amount(s) in the boxes that appear, and click Continue. 

If taxes were withheld in Box 4, they will either be added to your refund or applied to your tax liability.

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1 Reply
MichaelMc
New Member

I withdrew my sate employee retirement, but only reinvested a small amount of it how do i show that on my taxes.

Your Form 1099-R must report the full amount of any distribution. How that distribution is treated will be determined by the code(s) in Box 7 and by how you enter the data into TurboTax.

The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.

Then answer Yes, click Continue, and follow the on-screen instructions to either import or type in your 1099-R form.

  • Watch for a screen that asks What did you do with the money from [custodian's name]? 
  • On that screen, select the option "I moved the money to another retirement account," then choose the appropriate option from the three choices. 
  • If you only rolled over part of the distribution, select the third option. Fill in the appropriate amount(s) in the boxes that appear, and click Continue. 

If taxes were withheld in Box 4, they will either be added to your refund or applied to your tax liability.

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