jimakin11
New Member

Retirement tax questions

I had same problem. My IRA sent me a distribution when we don't have to take distribution because of Covid. I requested they take it back as a rollover which they did. Then they sent me a 1099R which showed the distribution and a form 5498 which showed the amount returned and as a rollover.  The walk thru of 1099Rs ask if this was a rollover which I check Yes. However, the rollover amount does not show up on the 1099R Summery work sheet and the distribution amount showed up as taxable income on Line 5a of my 1040-SR. This is a bug in their system.  To fix this I went to the 1099R Summary work sheet and manually entered the rollover amount in line 1a which then created a 0 Balance of gross distributions in line 2 and 0 Taxable in Line 20a