gg
Visitor III

1099-R problems

I have a 1099R for my rollover I received from my husbands retirement during our divorce.  The amount of the 1099R says 81,750.04.  This is correct, however, when I took the check to my bank to put in the IRA, I took a distribution as well.  So I actually only deposited 60,000 into the IRA.  How do I report this when the 1099R only shows the 81,750.04?

 

Thank You

3 Comments
TurboTax Specialist

1099-R problems

Enter the 1099-R as it is reported, then on the follow up pages answer what you did with the money. One of the selections is 'you did a combination of rolling over, converting, or cashing out the money'.

 

See example

 

 

gg
Visitor III

1099-R problems

cPaula,

Thank you for the help.  The 1099r reports in box 7 the code G.  So those questions do not show up.  I would have to change box 7 for 1 for early withdraw for those questions to show up.  I know I can't just change the 1099 info.  should I create a substitute 1099r to show the taxable amount?  If so, do I still report the original 1099r?

TurboTax Specialist

1099-R problems

You should check with the payer. If you were to roll the entire sum over and chose not to, then the payer will need to issue a corrected 1099-R form. Do not create a substitute 1099-R for this situation.