I withdrew $155,000 from my traditional IRA and redeposited that same amount , $155,000 to the same IRA within 60 days. My 1099 does not reflect the redeposit. In filing with TurboTax I entered the Gross Distribution per the 1099 and manually entered the Taxable Amount with the redeposit subtracted from the Gross Distribution. TurboTax is now carrying the entire Gross Distribution as taxable income and of course calculated the tax due by including the $155,000 amount as income. Please advise what to do.
