Skip to main content
June 3, 2019
Question

Do I enter 1099R for 401k rollover?

  • June 3, 2019
  • 1 reply
  • 0 views

1099R for my wife's 401k rollover to a Fidelity account, she was laid off.  Where do I enter the 1099R, is it under "Income"?  I assume there is no tax consequences since it was rolled over? Distribution code (box 7) is G.  

Question, what do I need to enter in Turbo Tax so that there's no tax involved?

1 reply

June 3, 2019

Yes, you enter the 1099-R. Please follow the instructions below:

  1. Login to your TurboTax Account 
  2. Click "Take Me To My Return"
  3. Click "Federal" from the left side of your screen.
  4. Scroll down to “Retirement Plans and Social Security” and click “Show more
  5. Scroll down and click "Start or Edit/Add" next to "IRA, 401(k), Pension Plan Withdrawals (1099-R)
  6. Answer "Yes" to the question "Did You Have Any of These Types of Income?"
  7. Click "I'll Type it Myself"
  8. Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
  9. Click "Continue" and enter the information from your 1099-R
  10. Continue through the questions.

Please be aware that the whole distribution will show as income on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 4b (taxable amount), it should say 0 with the words rollover next to it.

To preview your 1040:

  1. On the left side of your screen, select Tax Tools, then Tools.
  2. Under Tool Center, select View Tax Summary.
  3. On the left side of your screen, select Preview my 1040.
**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"