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IRA rollover to same account
I took out $24,100 in distributions from my regular IRA. Within 60 days, I redeposited $3,000 into the same IRA.
It seems to me that the "NET" taxable IRA distribution should be $21,100. In the entries in TurboTax I answered YES that some or all of the amount was rolled over into the same account. The worksheet shows the entry for $3,000. Yet, on my 1040, the amount continues to show the full distribution 0f $24,100. WHY is there not an adjustment for the rollover?
‎February 7, 2021
2:33 PM