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WHY IS THE ROLLOVER FROM MY 403B TO ANOTHER RETIREMENT ACCOUNT COUNTED AS INCOME WHEN I DID NOT RECEIVE ANY MONEY?

 
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MinhT1
Expert Alumni

WHY IS THE ROLLOVER FROM MY 403B TO ANOTHER RETIREMENT ACCOUNT COUNTED AS INCOME WHEN I DID NOT RECEIVE ANY MONEY?

The rollover is not taxable, but you have to indicate in TurboTax that you did a rollover.

 

In TurboTax Online, enter your form 1099-R by following these steps:

 

  1. Open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income
  3. Navigate to the list of income categories
  4. Locate the section Retirement Plans and Social Security and click on the arrow on the right
  5. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
  6. Enter your form 1099-R and follow the interview
  7. When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
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