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February 21, 2021
Question

I don't see an opportunity to answer this question, regarding an IRA rollover: "What Did You Do With The Money From (your retirement fund)?"

  • February 21, 2021
  • 2 replies
  • 0 views
I have entered a 1099-R form but no opportunity to indicate that the money was rolled over into another account.  How do I do this?

2 replies

rjs
Employee
February 22, 2021

Did TurboTax asked whether the withdrawal was an RMD? If so, what answer did you give? An RMD is not eligible to be rolled over, so if you said it was all an RMD, TurboTax does not ask whether you rolled it over. There were no RMDs in 2020. RMDs were suspended for the year. So you should say that none of it was an RMD. Then you should get the rollover question.

 

March 5, 2021

Did not indicate it as RMD.  Still not opportunity to indicate it was rolled over.

 

March 6, 2021

Has your box 7 a code G and was a direct rollover? Then you will not get the question "What Did You Do With The Money From (your retirement fund)?" but TurboTax will know that it was a rollover. 

 

Please review Form 1040 line 4b to see if the taxable amount shows $0:

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left

 

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