Do I report my Roth 403b to Roth IRA rollover as Roth IRA contributions?

davek124 — Wed, 03 Mar 2021 02:39:31 GMT

I rolled over $19,000 into my Roth IRA. If I enter this as a contribution (separate from my 1099-R) it says I made excess contributions and incur a penalty.

Re: Do I report my Roth 403b to Roth IRA rollover as Roth IRA contributions?

DaveF1006 — Wed, 03 Mar 2021 03:18:50 GMT

You would not enter this as a contribution. Instead you will enter this in your 1099-R screen.

This is the best way to enter each 1099-R. Just remember when you enter these all, you must check IRA/SIMPLE/SEP box for each of the 1099's.

log into turbo tax
Go to federal>income and expenses
Retirement plans and Social Security>show more
Ira (401K), pension plan Withdrawals(1099R) Start
After entering your 1099R you will scroll through several screens until you reach a screen that says Tell us if you moved the money through a rollover or conversion.
Here is where you will enter the information about your rollover.

topic Do I report my Roth 403b to Roth IRA rollover as Roth IRA contributions? in Retirement tax questions

Do I report my Roth 403b to Roth IRA rollover as Roth IRA contributions?

Re: Do I report my Roth 403b to Roth IRA rollover as Roth IRA contributions?