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Solved

IRA Rollover

Forum|Forum|1 year ago
March 28, 2025
1 reply
0 views

I have an IRA account with Fidelity and withdrew $10,000- in late 2024. I rolled these proceeds into my Individual (K) qualified plan, in which I am the trustee, within the 60 day time frame. Fidelity sent me a 2024 1099-R form showing the distribution amount in Box 1 and 2a. Box 2b is marked as Taxable amount not determined and the code in Box 7 is a 7.

In Turbo tax how do I account / show these funds were rolled into another qualified plan and no income tax is really owed?

Thanks.

Jack

Best answer by DoninGA

After you have completed entry of the Form 1099-R there will be a series of screens asking questions. One of these screen will ask what you did with the money. Choose the answer that you moved the money to another retirement account.

Employee

After you have completed entry of the Form 1099-R there will be a series of screens asking questions. One of these screen will ask what you did with the money. Choose the answer that you moved the money to another retirement account.