jt108
Returning Member

got 1099R box 7 code M as distribution for 401K loan with previous jobs; turbotax suggest I can still repay or deposit to traditional IRA as roll over or repayment before tax deadline April 15 2021; how to file or do the paperwork for it?

got 1099R box 7 code M as distribution for 401K loan with previous jobs; turbotax suggest I can still repay or deposit to traditional IRA as roll over or repayment before tax deadline April 15 2021; how to file or do the paperwork for it? I have the money to repay the loan via deposit to Fidelity or Merrill Lynch or any bank; but what do I need to avoid being taxes or penalty?  I am over 55 for tax year 2020.  Thank you.