Question

I rolled my profit sharing from a previous employer to a traditional IRA. Am I supposed to report that amount on my taxes? If so, how do I do it on turbo tax?

Forum|Forum|6 years ago
February 1, 2020
1 reply
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TurboTax Deluxe Online

If you get a 1099-R form showing the distribution, you will have to put that on your tax return. If it was a direct rollover, they may not issue a 1099-R form, but you should definitely check on that before you file your return.

Here is how to enter a 1099-R form:

   1. Use the search box in the upper right corner to search for 1099-R.
   2. Click on Jump to 1099-R.
   3. Answer the first question, Yes.
   4. Continue to enter your information.

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