moved employee 401(k) account into an annuity with IRA status and received 1099-R distribution that was added into income section. why is this Distribution added to income?
IRA's was also moved to same IRA Annuity ,all funds were sold and transferred to Annuity. I have no tax forms 1099R on this sell.Why?
Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry wasn't taxed please look at form 1040 line 4d (taxable amount), it should be 0 if all of it was rolled over.
To preview Form 1040:
About the IRA that was also moved to the IRA Annuity, this sounds like a trustee-to-trustee transfer of an IRA to another of the same type which is neither a distribution nor a rollover. Therefore, it is not reportable. But you can double-check with your financial institution.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
