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Question

Why is my rollover from one retirement account to another being taxed?

Forum|Forum|11 months ago
April 8, 2025
1 reply
0 views

It was a 403(b) account and it went to a traditional IRA within 60 days.

If you did not indicate that it was a rollover, you would be taxed on it. There is a follow-up question after you enter the 1099-R.

I took a disbursement and rolled most of it back to my IRA within 60 days. I noted on the Turbotax question that it was a partial rollover. There was no option to show the rollover as being done in 60 days. Now it shows that the amount rolled back into the IRA is being taxed as an "excess contribution" though it is not a contribution. It is a rollover. I don't think this is correct but don't see how to address it.

You must have entered it as a new IRA contribution under Deductions. Do not enter it there, delete it. Only enter it from the 1099R, nowhere else.