Question

Where do i report a 401K rollover to an ira?

Forum|Forum|2 years ago
April 12, 2024
1 reply
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I closed out a 401k with an employer and converted it oi an IRA. it is showing up as income,

TurboTax Deluxe Online

Employee

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 form and make sure it's right. It should be on line 5a and 0 taxable on 5b with the word Rollover by it.

After you entered the 1099R did you answer all the followup questions? Oh, what code is in box 7?

Pick I moved it to another retirement account even if you put it back into the same account.

Then choose - I did a combination of rolling over, converting or cashing out the money