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March 31, 2021
Question

Cares Act IRA rollover for an inherited IRA:

  • March 31, 2021
  • 1 reply
  • 0 views

Trying to modify from column 4b to 4a but cannot adjust 1040 form. 

    1 reply

    ReneeM7122
    March 31, 2021

    You can switch to Forms Mode. Here's a TurboTax article that explains how:

     

    Chuck48Author
    March 31, 2021

    Thank you for your reply. Yes - I was in the Forms mode for the 1040 and that's where I tried to edit - but i could not type in the amount in 4b into 4a. I did note the word "rollover" as an explanation in the separate page that opened up but that word did not replicate onto the 1040 line 4. Why didn't TurboTax automatically identify this is 4a item - was there a question in the prompts that would have covered this? Thanks again.

    KathrynG3
    March 31, 2021

    If your Form 1099-R has a distribution code of G, this is a Rollover and not taxable. It should have an amount in Line 4a and nothing in Line 4b.

     

    See: Where do I enter an IRA rollover?

     

    For more information:

    If this is related to the CARES Act, see: IRS announces rollover relief for required minimum distributions from retirement accounts that were waived under the CARES Act | Internal Revenue Service

     

    Otherwise, see: Rollovers of Retirement Plan and IRA Distributions | Internal Revenue Service