topic Retirement Transfer in Get your taxes done using TurboTax

Retirement Transfer

KBSVentures20 — Thu, 08 Apr 2021 22:22:01 GMT

How do you enter IRA Retirement Fund Transfers from one IRA to another IRA in TurboTax. I have numerous that were transferred to new retirement accounts, but as these are considered transfers you do not get a 1099-R. How/where do I enter this information.

Re: Retirement Transfer

VolvoGirl — Thu, 08 Apr 2021 22:25:01 GMT

You only enter actual 1099R you get, even for transfers. If they are direct transfers and you don't get a 1099R you don't need to report them.

Re: Retirement Transfer

macuser_22 — Thu, 08 Apr 2021 22:25:04 GMT

You don't. A trustee-to-trustee transfer does not generate a 1099-R and there is nothing to report.

Re: Retirement Transfer

KBSVentures20 — Thu, 08 Apr 2021 23:00:32 GMT

Thank you so much for the answer. We have records of the transfers to new investment account if ever needed, I believe that satisfactory. Once again thank you.