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Level 1

Question

rollover

Forum|Forum|4 years ago
March 24, 2022
2 replies
4 views

In 2021 I moved money from a Traditional account to a Roth Account. I received a 1099-R. Where and how do i enter this 1099-R?

Level 2

I think it is under income & wage -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R)

Level 15

You’ll owe some taxes in the year when you make the rollover because of the crucial differences between a traditional 401(k) and a Roth IRA.

To enter the information, follow these steps:

Search for 1099-R and select the Jump to link in the search results.
Continue through the screens to import or enter your 1099-R form.
When asked Tell us if you moved the money through a rollover or conversion select I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days) and Continue.
On the next screen, Did you roll over all of this (Box 1) to another retirement account? answer Yes, I rolled over to an IRA or other retirement account (or returned it to the same account) and Continue.

If taxes were withheld in box 4 of your form, they'll either be added to your refund or applied to your tax liability.

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