rollover

Forum|Forum|6 years ago
March 15, 2020
2 replies
2 views

Rollover of a 401K to an IRA how to report this on taxes

Best answer by bluedeb

You should have gotten a 1099-R about your rollover.

Where do I enter my 1099-R?

You'll get a 1099-R if you received $10 or more from a retirement plan. Here's how to enter your 1099-R in TurboTax:

Open (continue) return if you don't already have it open.
Inside TurboTax, search for 1099-R and select the Jump to link in the search results.
Answer Yes on the Your 1099-R screen, then select Continue.
If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
Select how you want to enter your 1099-R (import or type it in yourself) and then follow the instructions. You can add up to 20 1099-Rs.

ColeenD3

Level 15

If your 1099-R has a Code G to indicate the rollover, just enter the form exactly as it appears.

If you took the money and then rolled it over yourself within 60 days, you will need to take some extra steps. If this was an IRA rollover or conversion, answer the question that you moved the money to another retirement account (can be the same account). The screen will open up with choices of where it was moved. For a partial rollover say you moved the money then enter the amount of rollover.

bluedeb

Answer

Alumni - Champ

You should have gotten a 1099-R about your rollover.

Where do I enter my 1099-R?

You'll get a 1099-R if you received $10 or more from a retirement plan. Here's how to enter your 1099-R in TurboTax:

Open (continue) return if you don't already have it open.
Inside TurboTax, search for 1099-R and select the Jump to link in the search results.
Answer Yes on the Your 1099-R screen, then select Continue.
If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
Select how you want to enter your 1099-R (import or type it in yourself) and then follow the instructions. You can add up to 20 1099-Rs.