Get your taxes done using TurboTax

A 1099-R NEVER indicates a payback (rollover) reguardless of when it is done.  A 1099-R only report a distribution.   You indicate on your tax return by telling TurboTax that the money was rolled over.   The year is not materiel as long as it was within 60 days.     The Financial institution receiving the rollover will report it to the IRS as a rollover in May of the year that it was rolled over on a 5498 form.

 

You report a 2019 1099-R on your 2019 tax return - nothing is reported in 2020.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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