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Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

can you view my posting?  everything else is pretty similar to 2015 taxes.  I like to finish today.
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Hal_Al
Level 15

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

With code G in box 7, Turbotax should automatically treat this as a rollover. 

All you need to do is review your tax form.

The distribution will be placed on line 16a of form 1040, with 0 as the taxable amount on line 16b. The word ROLLOVER will also appear om line 16 (line 12 of form 1040A).

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7 Replies
Hal_Al
Level 15

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

Did you get a form 1099-R for the distribution? If so, what code is in box 7? What is in box 2a? What kind of account do you have at Peoples United bank mutual funds? That is, does the title on the account say IRA or Rollover IRA or Roth IRA or rollover 401k. In other words, are you sure you did a rollover and not a withdrawal that you put in an investment account?

Nobody here will be able to review your "posting".

TurboTax (TT) handles rollovers pretty smoothly. You enter the 1099-R at retirement distributions. The follow up interview will identify the distribution as a rollover. The distribution will be placed on line 16a of form 1040, with 0 as the taxable amount on line 16b. The word ROLLOVER will also appear om line 16 (line 12 of form 1040A).

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

Sorry I send you an email...
No worries..
Homedepot  Box 7...G
                      Box 2A...0.00

Peoples Bank
Statment says Mutual Funds  100.000%

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

Hi, can't find line 16A on tubo tax.

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

Hi can you call me because i can't find it.
Hal_Al
Level 15

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

In the on-line version of TT,  the  main Form 1040, 1040A or 1040EZ can be seen through Tools, View Tax Summary, Preview My 1040 or  go to Print Center and then choose to Preview.
Hal_Al
Level 15

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

This is a public forum. No one here can or will call you.

To contact TurboTax support:
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/support/contact/index.jsp">https://turbotax.intuit.com/support/contact/i...>
In the search line enter some keywords or question without quotes. On the next page, skip the suggested topic links and scroll down until you see CALL US.  It should show the wait times.
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Hal_Al
Level 15

Need help...the major big thing I did this year was to rollover my 401k to Peoples United bank mutal funds.I did not touch any of that money. how do I post on taxes?

With code G in box 7, Turbotax should automatically treat this as a rollover. 

All you need to do is review your tax form.

The distribution will be placed on line 16a of form 1040, with 0 as the taxable amount on line 16b. The word ROLLOVER will also appear om line 16 (line 12 of form 1040A).

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