Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 4:00:31 AM

Question on 1099-R - I rolled over by 403b to a IRA with the same company in the amount of $19,000. It looks like additional income, why?

0 1 480
1 Replies
New Member
Jun 6, 2019 4:00:32 AM

If it was a direct roll-over to a qualified IRA (meaning the money passed from one to the other without coming into your possession) 1099-R box 7 should have a distribution code (likely G).  This needs to be entered in order to be recognized as a non-taxable roll-over.  If you received the funds, then later put it into a qualified IRA you will need to seek the "Help" to guide your steps, also so this doesn't appear to be an excess contribution to an IRA.