- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Roth IRA Distribution and partial Repayment
Hi,
I took a sum of $120,000 from My Roth IRA for a house (in 2024).
Within 30 days I returned back $20,000 since I didn't need all the amount.
I am over 59 1/2 so the distribution is tax free.
I received Form 1099-R from Vanguard showing the $120,000 that I took.
However, I didn't receive anything from them regarding the 20K I gave back. When I called Vanguard they said the 20K will show on Form 5498 that I will get in May.
I will file my tax return in February. Before I receive the 5498.
How will I report the $20,000 that I gave back without a supporting Form?
I called Vanguard and they said either from 5329 or 1040 as Indirect Rollover. But they seemed not sure and I am afraid to make a mistake.
Will TurboTax have an adequate mechanism for me to report both transaction (withdrawal and back) when for one of them I don't have a Form?
Thanks!