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Problem with reporting IRA rollovers


@DT52 wrote:

The TurboTAx does not ask me if I invested the $ from the 1099_R ..it is showing it as income ...no drop downs about where I put the money ...


If you did no roll it back to a retirement account then it is taxable.   What you did with the money is irrelevant.

**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.**

Problem with reporting IRA rollovers

@DT52   What did you do with the money?  Did you take an RMD from the account?  What code is in box 7?  After you enter the 1099R you should get a screen asking what you did with it unless it was the RMD.  

 

1099R What you did.jpg

 

 

caffeyw
Returning Member

Problem with reporting IRA rollovers

If you did an indirect rollover, file a paper return.  When Intuit efiles, the lines that denote the indirect rollover don't show up correctly.  Basically it drops the ROLLOVER notation and the 2nd box (reported amount), leaving only the taxable amount box.  This despite when you print a copy for your records it appearing correctly on printed copy.

 

I'm still dealing with this issue on my 2017 & 18 returns.  

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