Why is my rollover being taxed?
Here are two common reasons for a rollover to be taxed:
- You rolled money to a Roth IRA which is taxable.
- The distribution was paid directly to you, but you didn’t deposit it in another retirement plan within 60 days.
If the above reasons don't apply to you, make sure you entered your 1099-R form correctly.
- Review the code(s) in Box 7
- Review your answers in the "What did you do with the money…?” screen.