topic Re: Entering IRA Rollover Amount in Investing https://ttlc.intuit.com/community/investing/discussion/re-entering-ira-rollover-amount/01/1056146#M310 <P>It sounds as if you did rollovers from your IRA into two different accounts. If this is true, then you should get a 1099-R for the rollover. You did not contribute to the new IRA.</P> <P>&nbsp;</P> <P>It also sounds like you're thinking that you&nbsp;rolled over into qualified accounts. In the program, once you enter your 1099-R, you will encounter screens for the rollover.</P> Fri, 31 Jan 2020 23:51:02 GMT ColeenD3 2020-01-31T23:51:02Z Entering IRA Rollover Amount https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309 <P>I had a poorly performing IRA Account and did 2 things with it in 2019.</P><P>&nbsp;</P><P>First, I moved $200,000 of it to a different investment vehicle (qualified) in a company-to-company transfer. I closed out the account a few weeks later and put 17,000 of the final 22,000 into&nbsp; IRA money market fund.</P><P>&nbsp;</P><P>I don't know how to enter the 17,000 deposit into Turbo Tax. I tried entering it as though it was a new IRA, but it told me (since I am retired) that it exceeded my earned income and chagres me tax and penalties.</P><P>&nbsp;</P><P>Help, please</P> Fri, 31 Jan 2020 21:08:04 GMT https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309 MacCookie 2020-01-31T21:08:04Z Re: Entering IRA Rollover Amount https://ttlc.intuit.com/community/investing/discussion/re-entering-ira-rollover-amount/01/1056146#M310 <P>It sounds as if you did rollovers from your IRA into two different accounts. If this is true, then you should get a 1099-R for the rollover. You did not contribute to the new IRA.</P> <P>&nbsp;</P> <P>It also sounds like you're thinking that you&nbsp;rolled over into qualified accounts. In the program, once you enter your 1099-R, you will encounter screens for the rollover.</P> Fri, 31 Jan 2020 23:51:02 GMT https://ttlc.intuit.com/community/investing/discussion/re-entering-ira-rollover-amount/01/1056146#M310 ColeenD3 2020-01-31T23:51:02Z Re: Entering IRA Rollover Amount https://ttlc.intuit.com/community/investing/discussion/re-entering-ira-rollover-amount/01/1062527#M311 <P>if you changed the investments WITHIN the same account, there is no reporting necessary on your income tax forms.&nbsp;</P><P>&nbsp;</P><P>if you "rolled over' the balance to another trustee, you will receive a 1099-R - just post that form EXACTLY as it is presented to you and there should be no impact on your taxes.&nbsp; Trustees are required to sen these forms by January 31, so if not received call the trustee and ask them for the form,</P> Sat, 01 Feb 2020 21:59:09 GMT https://ttlc.intuit.com/community/investing/discussion/re-entering-ira-rollover-amount/01/1062527#M311 NCperson 2020-02-01T21:59:09Z
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topic Re: Entering IRA Rollover Amount in Investing
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<P>It sounds as if you did rollovers from your IRA into two different accounts. If this is true, then you should get a 1099-R for the rollover. You did not contribute to the new IRA.</P> <P>&nbsp;</P> <P>It also sounds like you're thinking that you&nbsp;rolled over into qualified accounts. In the program, once you enter your 1099-R, you will encounter screens for the rollover.</P>
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https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309
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<P>I had a poorly performing IRA Account and did 2 things with it in 2019.</P><P>&nbsp;</P><P>First, I moved $200,000 of it to a different investment vehicle (qualified) in a company-to-company transfer. I closed out the account a few weeks later and put 17,000 of the final 22,000 into&nbsp; IRA money market fund.</P><P>&nbsp;</P><P>I don't know how to enter the 17,000 deposit into Turbo Tax. I tried entering it as though it was a new IRA, but it told me (since I am retired) that it exceeded my earned income and chagres me tax and penalties.</P><P>&nbsp;</P><P>Help, please</P>
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<P>It sounds as if you did rollovers from your IRA into two different accounts. If this is true, then you should get a 1099-R for the rollover. You did not contribute to the new IRA.</P> <P>&nbsp;</P> <P>It also sounds like you're thinking that you&nbsp;rolled over into qualified accounts. In the program, once you enter your 1099-R, you will encounter screens for the rollover.</P>
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<title>Re: Entering IRA Rollover Amount</title>
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https://ttlc.intuit.com/community/investing/discussion/re-entering-ira-rollover-amount/01/1062527#M311
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<description>
<P>if you changed the investments WITHIN the same account, there is no reporting necessary on your income tax forms.&nbsp;</P><P>&nbsp;</P><P>if you "rolled over' the balance to another trustee, you will receive a 1099-R - just post that form EXACTLY as it is presented to you and there should be no impact on your taxes.&nbsp; Trustees are required to sen these forms by January 31, so if not received call the trustee and ask them for the form,</P>
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