topic Why are rollover funds to Roth seen by you as contribution and not rollover? Why are Fidelity data not automatically downloaded in Turbotax? in Retirement tax questions

Why are rollover funds to Roth seen by you as contribution and not rollover? Why are Fidelity data not automatically downloaded in Turbotax?

johnmhowardjr — Mon, 15 Mar 2021 13:03:56 GMT

How is a K-1 entered?

Re: Why are rollover funds to Roth seen by you as contribution and not rollover? Why are Fidelity data not automatically downloaded in Turbotax?

johnmhowardjr — Mon, 15 Mar 2021 13:05:16 GMT

How are added income to be entered?

Re: Why are rollover funds to Roth seen by you as contribution and not rollover? Why are Fidelity...

MaryK4 — Mon, 15 Mar 2021 21:25:23 GMT

To indicate a ROLLOVER, you must enter the information after your enter the 1099-R in the income section. (see below) You will indicate the rollover amount and TurboTax will report it on your tax return. DO NOT enter in the Deductions & Credits section.

When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. By rolling over, you’re saving for your future and your money continues to grow tax-deferred.

If you don’t roll over your payment, it will be taxable (other than qualified Roth distributions and any amounts already taxed) and you may also be subject to additional tax

To enter the K-1, see Where do I enter a K-1 that I received?