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Assuming there is a "1" in box 7 of your 1099-R. TurboTax will initially calculate both income tax and an early distribution tax, but you''ll be able to claim an indirect rollover to reverse this.
In TurboTax, enter your 1099-R just as it is issued.
The software will then ask a series of questions so the program can determine if the amount is taxable or not.
At the What Did You Do with The Money screen indicate that I moved the money to an IRA or another retirement account and then select rolled over down below.
There should be no effect on your taxes.
Assuming there is a "1" in box 7 of your 1099-R. TurboTax will initially calculate both income tax and an early distribution tax, but you''ll be able to claim an indirect rollover to reverse this.
In TurboTax, enter your 1099-R just as it is issued.
The software will then ask a series of questions so the program can determine if the amount is taxable or not.
At the What Did You Do with The Money screen indicate that I moved the money to an IRA or another retirement account and then select rolled over down below.
There should be no effect on your taxes.
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