topic Re: 401k Rollover in Retirement tax questions

401k Rollover

rwacek — Thu, 09 Mar 2023 03:18:25 GMT

Hello again. I'm getting lost. I'm trying to ask LindaS5247 (Employee Tax Expert) a follow up question but am lost. Perhaps she is in the on-line queue and I have the desktop version. In any event her instructions are

"Search for 1099-R and select the Jump to link"

From where do I do this? What (online) screen? I can't find any mention of a question asking if I rolled this over.

Thank you for helping.

Re: 401k Rollover

VolvoGirl — Thu, 09 Mar 2023 03:34:42 GMT

It works the same in the Desktop program. Did you enter the 1099R? What code is in box 7?

The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.

Or Enter a 1099R under

Federal Taxes Tab or Personal (Home & Business)

Wages & Income at the top

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

There are 4 boxes. Be sure to pick the right box for the kind of 1099R you got.

If you are filing a Joint return be sure to pick which person it is for.

Don't enter the bank or broker name and don't try to import it. It is just as fast and easy to manually enter it. At the bottom pick - Change How I enter my Form

Then on the next screen pick I'll Type it in Myself

Re: 401k Rollover

Vanessa A — Thu, 09 Mar 2023 03:41:55 GMT

If you are using the desktop version of TurboTax and you want to enter a rollover, select the following:

Federal
Wages and Income
Ill Choose what I work on
Start next to IRA, 401k, Pension Plan Withdrawals (1099-R) under the Retirement Plans and Social Security heading mid way down the screen
Walk through the steps to enter your 1099-R
About 4 questions after you enter your 1099-R you will be asked what did you do with the money, select I moved the money to another retirement account
Select I rolled over all of the money or I did a combination of things
continue through entering the amounts you rolled over

Your rollover must have occurred within 60 days of the distribution. If it did, you can click on the "rolled over" hyperlink to be sure you meet all the criteria to have your transfer count as a rollover for tax purposes.

Re: 401k Rollover

rwacek — Sat, 11 Mar 2023 22:43:34 GMT

Very helpful. I needed to keep scrolling down.

Re: 401k Rollover

LindaS5247 — Sat, 11 Mar 2023 23:01:38 GMT

@rwacek I hope you were able to find where to enter your Form 1099-R.

You can enter "1099-R" in your search box at the top of your screen.

You may be able to find it more easily it by clicking on Form 1099-R here. It should take you to the right place.

Please feel free to contact us in TurboTax Community if you need additional help.