Question

How do I enter a standard 401k rollover to my traditional IRA?

Forum|Forum|5 years ago
March 4, 2021
1 reply
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Fidelity sent me a 1099-R, and Turbo tax appears to be logging it as a distribution rather than a rollover which may be affecting my taxes due.

TurboTax Premier Online

DawnC

Employee

The 1099-R reports the distribution. But when you enter the 1099-R, TurboTax will ask you what you did with it and when you indicate that you rolled the amounts over to the IRA, the tax will be removed. What code is in box 7 and did you have any tax withholding in Box 4? Also, you can verify what amount (if any) is reported as taxable income. Check Form 1040 and see what is on Line 5b.

How do I preview my TurboTax Online return before filing?

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