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If you withdraw from 403b and personally deposited the funds in rollover IRA within a week, how do you show non-taxable portion in TurboTax?

 
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If you withdraw from 403b and personally deposited the funds in rollover IRA within a week, how do you show non-taxable portion in TurboTax?

When you receive the 1099-R and enter it into TurboTax, the interview will ask what you did with the money.  You indicate that it was all or partially rolled into another retirement account.  The amount rolled over will not be included on line 4b (taxable amount) of the 1040 form with the word ROLLOVER next to it.

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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If you withdraw from 403b and personally deposited the funds in rollover IRA within a week, how do you show non-taxable portion in TurboTax?

When you receive the 1099-R and enter it into TurboTax, the interview will ask what you did with the money.  You indicate that it was all or partially rolled into another retirement account.  The amount rolled over will not be included on line 4b (taxable amount) of the 1040 form with the word ROLLOVER next to it.

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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