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lynn9
New Member

1099-R funds partially replaced so I do not owe taxes on full amount. How to show that?

Withdrew $30,000 but replaced $20,000.  How do I edit the 1099R to reflect this?
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Accepted Solutions
NancyG
New Member

1099-R funds partially replaced so I do not owe taxes on full amount. How to show that?

Answer Yes when TurboTax only asks if the distribution (or some of the distribution) was rolled over.  

As long as you indicated in the follow-up questions that you moved a portion of the money to another retirement account and you rolled over part of the money (which it appears you did from your question) you are fine.

The result will be the amount rolled over appearing on Form 1040 line 15b or Form 1040A line 11b.

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2 Replies
NancyG
New Member

1099-R funds partially replaced so I do not owe taxes on full amount. How to show that?

Answer Yes when TurboTax only asks if the distribution (or some of the distribution) was rolled over.  

As long as you indicated in the follow-up questions that you moved a portion of the money to another retirement account and you rolled over part of the money (which it appears you did from your question) you are fine.

The result will be the amount rolled over appearing on Form 1040 line 15b or Form 1040A line 11b.

lynn9
New Member

1099-R funds partially replaced so I do not owe taxes on full amount. How to show that?

Thanks for the response.
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