ONE BROKER, TWO EMPLOYERS

[pcfields]

Both NCR Corp. and Rockwell Automation use Fidelity to manage retirement (IRA, Pension) accounts.  I worked for both of them.  From one, I am receiving pension payments from Fidelity.  From the other, I rolled over my retirement account to a different broker.  I've entered the information for the retirement savings I am receiving from the pension.  How do I enter the rolled-over amount and receiving institution into TurboTax 2022?

[PattiF · Accepted solution]

You should have received a 1099-R for the rollover that you would enter into the tax return. Since the funds were deposited with a different institution, the sending institution (Fidelity) will issue a 1099-R for the transaction. This may be available to you online. The Form 1099-R deadline to be mailed was January 31. 

There will be a Code G in Box 7, reporting a non-taxable rollover.

Here are the instructions to follow to add the 1099-R to TurboTax Online:

• Open your return
• Search for 1099-R in the upper right corner and select the Jump to link in the search results
• Answer Yes on the Did you get a 1099-R? screen (If you land on the Review your 1099-R info screen instead Add Another 1099-R
• Answer questions until you get to the import screen
• Type it in yourself, select Change how I enter my form, and continue through