1099r form- My wife received a lump sum payment from a pension fund. We deposited the check directly into an IRA.. She received a 1099-R.Do we need to file the 1099-R?

[help-please]

Since she did not receive the money from the distribution but had the check deposited directly into an IRA, do we need to claim the amount of the distribution? My assumption is that there is no tax due until we take a distribution from her IRA after she turns 59 1/2.

[KenH1 · Accepted solution]

You are correct that a rollover is not taxable, but you should still report the 1099-R:

Click Federal Taxes (top menu)

Click Income & Expenses (just below top menu)

Scroll down to Retirement Plans and Social Security and click Show More (if necessary)

Edit/Add the 1099-R information and pay attention to Box 7 distribution code.

Hopefully the code is G (direct rollover).  

If not, you did an indirect rollover, and should take these additional steps:

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 impact on your taxes in either case.

[KenH1]

made minor edit

[dswalden27]

I have the same issue and not sure which box should be checked in 2b - Taxable amount not Determined or Total Distribution.

[KenH1]

Enter it as printed on the 1099-R.  It shouldn't matter if you do the "What Did You Do with The Money" steps