If you rolled over the 401k distribution to a traditional IRA, the distribution should not be taxable. If you rolled over the 401k distribution to a Roth IRA, the distribution will be taxable.
If you took the funds
out of the 401k yourself and then redeposited them into the IRA, make
sure you indicate this in TurboTax.
To
enter your 1099-R or review your 1099-R entries please follow these steps:
- Click on Federal Taxes >
Wages & Income [In TT Self-Employed: Personal >
Personal Income].
- Scroll down to the Retirement
Plans and Social Security section and click on the Start/Revisit box
next to IRA, 4701(k), Pension Plan Withdrawals (1099-R).
[See Screenshot #1, below.]
- If you've already entered one
(or more) 1099-Rs, you will see a screen Your1099-R
Entries. Click on the Edit link next to the 1099-R you
wish to review. [Screenshot #2]
- If you haven't already entered a
1099-R, you will see the screen, Your 1099-R. Click Yes and
then Continue.
- You can either import your 1099-R
or click on the I'll type it in myself box. [Screenshot
#3]
- If you select to enter the
information yourself, continue through the screens, answering the
interview questions.
- A few screens after the 1099-R
input screen, you should see a screen, What Did You Do With The Money
From 401k institution? Mark the radio button next to I moved
the money to another retirement account (or returned it to the same
retirement account). [Screenshot #4]
- Below the grey line, click the
radio button next to I rolled over all of this money to an
IRA or other retirement account (or returned it to the same
account). Click Continue.
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