1099-R Direct Rollover "Where is this distribution from?"

[omahablue]

My wife did three direct rollovers from different retirement accounts. She is 49. 

After entering all of the information on the 1099-R forms, TurboTax is asking "Where is this distribution from?" and gives several options to select from (including 'none of the above).  It also states that "Your answer here will determine if all or part of your pension income is excludable on your Michigan state return."

One of the options to select is "Pension/IRA distribution received before retirement age." Because this is a direct rollover into another retirement account, I would NOT select this. Correct?

Thanks for your help.

[JohnB5677]

Correct. do not select "Pension/IRA distribution received before retirement age."

What code do you have in Box 7.  It may be 1 or 2.  This indicates an early distribution, but that's Okay.

Go back to where you posted the 1099-R. then.

• Do you have info in Box 2a or Box 2b? - Yes/No
• Is the IRA/SEP/SIMPLE box on this 1099-R checked? Yes/No
• Do any of these situations apply to you? None of the above.
• Tell us if Cynthia moved the money through a rollover or conversion.
  • I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
  • I converted some or all of it to a Roth IRA
  • I did a combination of rolling over and converting some or all of this money.
  • I didn't rollover or convert this money.
• Did Cynthia rollover all of this $3,400.00 (Box 1) to another retirement account?  Yes/NO/Else

Do this for each one of the 1099-Rs that you have.

[omahablue]

Code G in Box 7

[omahablue]

When I go back into each 1099-R entry, "Pension/IRA distribution received before retirement age" is checked! Even though I selected "none of the above" previously. TurboTax seems to be changing this selection, even though I don't want it to. 

[JohnB5677]

This is still Okay.  Since she is 49 it is a distribution received before retirement age 59 1/2.  TurboTax is picking up her date of birth from the "My Info" section of the return.  You may have everything posted correctly provided you did go through and indicate that these were rollover contributions.

Please use these steps to preview your tax return.

1. On the menu bar on the left that shows.
   1. My Info
   2. Federal
   3. State
   4. Review
   5. File
2. Select Tax Tools
3. On the drop-down select Tools
4. On the popup menu
5. Select View Tax Summary
6. On the left sidebar
7. Select Preview my 1040.

Line 4a - IRA Distribution

Box 4b - Taxable IRA

Line 5a - Pension Distribution

Box sb - Taxable Pension

Line 15 - Taxable Income

Line 24 - Total Tax.

Line 25 - Withholdings.

Line 33 - Payments including Credits.

Line 34 - Overpayments.

Line 37 - Tax owed.

To return to the entry screens press Back on the sidebar.

[omahablue]

My TurboTax doesn't look quite like that. That menu says:

• Personal Info
• Business
• Personal
• State Taxes
• Review
• File

I poked around, but was not able to find an option to "preview my 1040." I hope I'm not just missing something obvious.

[VolvoGirl]

You have the Desktop Home & Business program.  Federal is under Personal.  (Federal is split into Business & Personal).  Otherwise it should be the same.

[VolvoGirl · Accepted solution]

For 1099R.....If you edit or review a 1099R it does not keep your answers from before but resets them to the defaults. Then you have to go through and answer them all again.   So be sure to go all the way to the end of the 1099R section.  They are right unless you go back.  So you probably should go back and double check all of them.

TO PREVIEW

Switch to Forms.  Click Forms in the upper right (left for Mac).  Then open the 1040 from the left column.   And  you can look around at all the forms.