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nonamom4
April 8, 2025
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We have a pension rollover to a Traditional IRA. It's showing as an excess contribution. How do we correctly show it's not a contribution? The 1099-R shows not taxable.

  • April 8, 2025
  • 1 reply
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The pension wrote the check out to our investment company so we only mailed it to add to the account. No contributions were made to this account. Only the rollover for about $16k.
    Best answer by AnnetteB6

    Be sure that you have only entered the Form 1099-R and answered the follow-up questions to indicate that the money was rolled into a Traditional IRA.

     

    Do not enter anything in the Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions section of your return with regard to the rollover to the Traditional IRA because the rollover into the IRA is not considered to be a contribution.  

    1 reply

    A
    AnnetteB6Answer
    April 8, 2025

    Be sure that you have only entered the Form 1099-R and answered the follow-up questions to indicate that the money was rolled into a Traditional IRA.

     

    Do not enter anything in the Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions section of your return with regard to the rollover to the Traditional IRA because the rollover into the IRA is not considered to be a contribution.  

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