I am the beneficiary of my aunt's annuity after she passed. I received a 1099-R. In line 5b of my 1040, TurboTax added "ROLLOVER" to the taxable amount. Is this correct?

Forum|Forum|11 months ago
April 12, 2025
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MAK70

What is your code in Box 7? You may want to go through the entry to see if you indicated that you rolled it into another retirement account.

dcpinya25Author

The code is 4D. I took it as a lump sum payment and did not roll it over. TurboTax is automatically populating it with “ROLLOVER”

dmertz

A distribution reported with codes 4 and D in box 7 is ineligible for rollover. It would seem that either the ROLLOVER notation is coming from the entry of some other Form 1099-R or you have mistakenly omitted the code D as the second code when entering this Form 1099-R.

I suggest deleting this 1099-R form from TurboTax and seeing if the ROLLOVER notation disappears, then reentering this Form 1099-R manually, making sure that you indicate that box 7 has more than one code and indicating that the second code is code D.