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Level 3

Question

Turbotax marked rollover on form 1040

Forum|Forum|1 year ago
April 2, 2025
1 reply
0 views

Form 1040 has rollover checked on box 5b. Interestingly enough, it did not last year. Is this correct? I did not rollover any funds between accounts. I did have after tax contributions with the Microsoft rollover though (I also had those in 2023 though and it did not say rollover).

Ask the Experts - MetLife VIII - April 2025

Level 15

No, if you did not rollover your retirement distribution, the word ROLLOVER should not be printed on line 5b. You should delete the 1099-R and re-enter it, and carefully answer the follow-up question. According to your return, some portion or all of your distribution was put back into a qualified retirement plan. Since that is not the case, you will need to remove that distribution and re-enter it without indicating there was a rollover.

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Where do I enter a 1099-R?

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LucaXAuthor

Level 3

Do I answer yes to this question for Roth In-plan Conversion if I have it set to convert my after-tax contributions?

Did you move this money from a 401(k) to a Roth 401(k)?

This includes rollovers from a regular 401(k), 403(b) or 457(b) plan to a designated Roth 401(k), 403(b) or 457(b) plan.

Yes, I moved the money to a Roth 401(k), Roth 403(b), or a 457(b) plan

No, I didn't.

LucaXAuthor

Level 3

Also, even if I write No to all the questions, TurboTax wrote rollover on it.