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Level 1
posted Feb 19, 2025 4:52:10 PM

1099-R form

Contacted previous employer and noted wanted to do a rollover for Roth 401k portion as well as tradition. Check was mailed directly to me and deposited within the 90 day period. Old employer sent 1099-R form coded as "1". Will I have to pay taxes on this even though it was rolled into a Rollover IRA?

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1 Replies
Expert Alumni
Feb 19, 2025 5:19:48 PM

It depends. If you rolled your traditional IRA over within 60 days (not 90 days), follow the instructions below.  Your 1099-R should have a distribution code G in box 7 if it was a direct rollover but since it didn't have a code G, TurboTax directs you so you can report it as a rollover.

 

  1. Open TurboTax
  2. In the search box, type 1099-R
  3. Select Jump to 1099-r link
  4. Continue through the screens to enter your form
  5. When you get to the screen Tell us if you moved the money through a rollover or conversion, select I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days) and select Continue
  6. On the next screen, Did you roll over all of this (Box 1) to another retirement account? select Yes; I rolled over to an IRA or other retirement account (or returned it to the same account) and select Continue.

Refer to the TurboTax Help articles Where do I enter an IRA rollover?

 

If you rolled your designated Roth to another Roth IRA that you had for more than five years, then you won't have to meet the five-year holding period.  

 

Refer to the TurboTax Blog's Roth IRA Withdrawal Rules & Penalties for more information.