Hello, I'm reaching out regarding "Did you withdraw money from your retirement plan?" . I only did a roll over for my 401k - do I need to report this? I have a 1099-R

Forum|Forum|1 year ago
February 22, 2025
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When I changed employers I rolled over my 401k from one financial institution to another. I got a 1099-R with a gross distribution listed but no taxable amount listed.

MindyB

Yes, you need to report this, but you will not incur tax. ‌Here are the steps to indicate the rollover in TurboTax Online:

Navigate to Federal > Wages & Income > IRA, 401(k), Pension Plan Withdrawals (1099-R) Add/Edit
Enter the information from the 1099-R, continue through the interview questions.
You will come to a screen that says "Tell us if you moved the money through a rollover or conversion." Select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
On the next screen, indicate you rolled over the entire amount to another retirement account.