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March 20, 2024
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How can I enter a direct rollover from one tax deferred retirement plan to another tax deferred retirement plan?

  • March 20, 2024
  • 2 replies
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The Turbotax prompts are all concerning rollovers to Roth IRAs.  
Best answer by dmertz

When entering a code-G Form 1099-R that reports a direct rollover and you answer No to both questions regarding rollovers to Roth accounts, TurboTax automatically treat the distribution as having been rolled over to a traditional account, no need for other questions.

2 replies

March 20, 2024

What TurboTax prompts are you talking about? They are not all for Roth IRAs.

 

What is the distribution code on your 1099-R?

 

In the screens after you enter the data for the 1099-R, eventually you will be asked, "what did [name] do with this money?"

 

Check "[name] moved the money to another retirement account."

 

Then in the new lines that appear, tell TurboTax if some or all of the distribution is a rollover to a traditional IRA or other retirement account. 

 

This will complete the rollover.

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dmertzAnswer
Employee
March 20, 2024

When entering a code-G Form 1099-R that reports a direct rollover and you answer No to both questions regarding rollovers to Roth accounts, TurboTax automatically treat the distribution as having been rolled over to a traditional account, no need for other questions.