Just to verify when you took the RMD there were taxes withheld and when you returned the money you also paid back the taxes withheld back from other funds.
Yes, the federal taxes that were withheld on your 1099-R will show up on Form 1040 line 25b. And your state taxes withheld will show up on your state return.
Please make sure you enter the complete amount retuned when asked in TurboTax.
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R”
- Continue until "How much was a RMD?" and select "none"
- Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
- Continue answering the questions.
You must indicate to TurboTax that none of the distribution was RMD. If you already enter the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form.
@LanieC
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