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TT is saying I have a IRA contribution when it is a rollover. How do I correct?

 
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AnnetteB6
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

TT is saying I have a IRA contribution when it is a rollover. How do I correct?

Rollovers to an IRA are accounted for by entering the Form 1099-R reporting the distribution from the other account.  A rollover is not considered to be a contribution to the IRA.  

 

Go to the Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions section of your return and be sure that only contributions that you made yourself have been entered in this section.  

 

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1 Reply
AnnetteB6
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

TT is saying I have a IRA contribution when it is a rollover. How do I correct?

Rollovers to an IRA are accounted for by entering the Form 1099-R reporting the distribution from the other account.  A rollover is not considered to be a contribution to the IRA.  

 

Go to the Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions section of your return and be sure that only contributions that you made yourself have been entered in this section.  

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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