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March 29, 2024
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I cashed out my 403c fund and opened an IRA account.

  • March 29, 2024
  • 1 reply
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I received an 1099-MISC form and not a 1099-R.  20% of the funds was withheld and the rest was put into the IRA account.  How do I report this in Turbotax?

Best answer by dmertz

A distribution from a 403(c) fund is not permitted to be rolled over to an IRA.  Whatever you put into the IRA constitutes an ordinary IRA contribution, not a rollover.

1 reply

dmertzAnswer
Employee
March 29, 2024

A distribution from a 403(c) fund is not permitted to be rolled over to an IRA.  Whatever you put into the IRA constitutes an ordinary IRA contribution, not a rollover.