If Form 1099-R doesn't already have a code in box 7 indicating that it was a rollover then you can answer the questions in TurboTax to indicate it was a rollover.
- Login to your TurboTax Account
- Click "Take Me To My Return"
- Click "Federal" from the left side of your screen
- Scroll down to "Retirement Plans and Social Security" and click "Show more"
- Scroll down and click "Start " next to "IRA, 401(k), Pension Plan Withdrawals (1099-R)"
- Answer "Yes" to the question "Did You Have Any of These Types of Income?"
- Click "I'll Type it Myself"
- Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
- Click "Continue" and enter the information from your 1099-R
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
- Then choose “I rolled over all of this money"
Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), only the amount that was not rolled over will show here.
To preview Form 1040:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
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