I am filing 1099-R for a Rollover IRA. My previous 401K was rolled into traditional IRA but Turbotax did not ask if it was a traditional IRA, now it says it was a "withdrawal." Is this ok?

acaporello33 — Thu, 06 Jun 2019 09:25:30 GMT

TurboTax may show it as a "withdrawal" on the income summ...

ThomasM — Thu, 06 Jun 2019 09:25:31 GMT

TurboTax may show it as a "withdrawal" on the income summary screen, but take a look at the actual tax return to verify that it was not listed as taxable.

If you're signed into your return, go up in the upper margin of the screen and click on My Account. When the dropdown box appears, select Tools. Then click on the first item in the list of "Other Helpful Links," View Tax Summary. Then look above the summary page and click on Preview My 1040. This will load the 2-page 1040 or 1040A.

Now look at line 16a & 16b of the 1040 (12a & 12b of 1040A). The gross amount of your 401k "withdrawal" should be in the "a" box, and the "b" box should show zero, which is the taxable amount. If that's the case, you're good to go.

If you see something else, then let me know and we'll explore further.

topic I am filing 1099-R for a Rollover IRA. My previous 401K was rolled into traditional IRA but Turbotax did not ask if it was a traditional IRA, now it says it was a "withdrawal." Is this ok? in Retirement tax questions

I am filing 1099-R for a Rollover IRA. My previous 401K was rolled into traditional IRA but Turbotax did not ask if it was a traditional IRA, now it says it was a "withdrawal." Is this ok?

TurboTax may show it as a "withdrawal" on the income summ...