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April 10, 2025
Question

Does a rollover from a pension into a traditional IRA count as a contribution?

  • April 10, 2025
  • 2 replies
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    2 replies

    AmyC
    Employee
    April 10, 2025

    No, it is just a rollover.

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    VolvoGirl
    Employee
    April 10, 2025

    No.  Only enter it from the 1099R, nowhere else.   Do not enter it under Deductions as a new contribution.   After you enter the 1099R it will ask what you did with it.  

    Pick I moved it to another retirement account even if you put it back into the same account.

     

    Oh what code is in box 7?

     

    If you returned it within 60 days, it is not taxable unless you didn’t replace any withholding that might have been taken out.  Then the withholding becomes a distribution.  

    Is it a pension or a 401K?   You normally can not roll over a pension to a IRA.