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I assume from your description that you received a 1099-R with a distribution code of '7' and the "total distribution" box checked. If so, do the following:
In the 1099-R section in TurboTax, after you enter the 1099-R information (and after a lot of other questions) you will be asked "What did you do with the money from [name]'s [pension name]?"
You will check the first bullet: "[name] moved the money to another retirement account (or returned it to the same retirement account)".
This will expose two new lines. You will check the first one: "[name] rolled over all this money".
Now your 1099-R distribution will not be taxed.
If, on the other hand, your distribution code was "G" which indicates a trustee-to-trustee rollover, you won;t have to do anything but enter the 1099-R exactly as is. TurboTax won't tax a trustee-to-trustee rollover.
I assume from your description that you received a 1099-R with a distribution code of '7' and the "total distribution" box checked. If so, do the following:
In the 1099-R section in TurboTax, after you enter the 1099-R information (and after a lot of other questions) you will be asked "What did you do with the money from [name]'s [pension name]?"
You will check the first bullet: "[name] moved the money to another retirement account (or returned it to the same retirement account)".
This will expose two new lines. You will check the first one: "[name] rolled over all this money".
Now your 1099-R distribution will not be taxed.
If, on the other hand, your distribution code was "G" which indicates a trustee-to-trustee rollover, you won;t have to do anything but enter the 1099-R exactly as is. TurboTax won't tax a trustee-to-trustee rollover.
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