☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 29, 2024 1:48:08 PM

I cashed out my 403c fund and opened an IRA account.

I received an 1099-MISC form and not a 1099-R.  20% of the funds was withheld and the rest was put into the IRA account.  How do I report this in Turbotax?

0 1 1291
1 Best answer
Level 15
Mar 29, 2024 2:31:05 PM

A distribution from a 403(c) fund is not permitted to be rolled over to an IRA.  Whatever you put into the IRA constitutes an ordinary IRA contribution, not a rollover.

1 Replies
Level 15
Mar 29, 2024 2:31:05 PM

A distribution from a 403(c) fund is not permitted to be rolled over to an IRA.  Whatever you put into the IRA constitutes an ordinary IRA contribution, not a rollover.