I have a 1099 R from one institution regarding a rollover trad IRA. However, I think turbotax sees it as income and I am paying taxes. What am i doing wrong?

lisalisa15 — Thu, 06 Jun 2019 15:54:11 GMT

The option to show the rollover comes up during the 1099-...

SamiaI — Thu, 06 Jun 2019 15:54:12 GMT

The option to show the rollover comes up during the 1099-R interview, several screens after you enter your 1099-R information. When TurboTax asks What did you do with the money?, check moved the money to another retirement account. This will open a few additional choices, including rolled over all of this money. (See screenshot below)

To enter your rollover:

Continue your return in TurboTax. (If your return isn't open, you'll need to sign in and click Take me to my return.)
Click My Account (top right of your screen).
Click Tools.
Click Topic Search.
In the search bar, type 1099-r.
In the results box, highlight 1099-r and click Go.
You'll land on the Your 1099-R page, which asks Did you have any of these types of income in 2016? Select Yes, then click Continue.
Follow the prompts to either import or manually enter your 1099-R form and finish the interview, paying careful attention to the rollover questions if you made an indirect rollover.

You can read the difference between direct and indirect rollover :

https://ttlc.intuit.com/replies/3880707

topic I have a 1099 R from one institution regarding a rollover trad IRA. However, I think turbotax sees it as income and I am paying taxes. What am i doing wrong? in Retirement tax questions

I have a 1099 R from one institution regarding a rollover trad IRA. However, I think turbotax sees it as income and I am paying taxes. What am i doing wrong?

The option to show the rollover comes up during the 1099-...