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posted Apr 4, 2024 7:06:44 PM

IRA rollover _ How to record properly in Turbo Tax - Directions please!

I had a IRA which was rolled over in its entirety last year from one financial institution straight to another with no funds disbursed to me. The issuing entity issued a 1099-R and the new brokerage firm sent me a form 5498. How do I incorporate this move into my return on TT Deluxe? It's not readily transparent what I need to do in order to finish my return and where exactly to put the info/data in the return! Please, I need specific guidance/instructions on how to proceed  and successfully navigate this development so I move on and be finished. Thank you.

 

 

 

 

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1 Replies
Level 15
Apr 4, 2024 7:20:20 PM

Just enter the 1099-R in TurboTax exactly as it is on the form that you received. You do not enter the 5498.


In the Search box type 1099-r, then click the link that says "Jump to 1099-r." After you enter the 1099-R, proceed through all of the follow-up questions. Read the questions carefully.