Skip to main content
March 9, 2025
Question

Do I need to report anything else for a rollover? I combined my 3 401Ks into a single 401k, however it looks like I just have $30,000 income on turbotax instead.

  • March 9, 2025
  • 1 reply
  • 0 views
How do I show that the gross distribution was sent to another 401 K and I didn't keep the money?

    1 reply

    March 9, 2025

    You have to indicate in the follow-up interview in TurboTax that the distributions were rolled over to another 401(k). The rollovers are not taxable.

     

    In TurboTax Online, enter your form 1099-R by following these steps:

     

    1. Open your tax return
    2. Click on Federal in the left-hand column, then on Wages & Income
    3. Navigate to the list of income categories
    4. Locate the section Retirement Plans and Social Security and click on the arrow on the right
    5. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
    6. Enter your form 1099-R and follow the interview
    7. When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"