1. Received a distribution from an IRA.
2. Advisor notified us that he had calculated the RMD overstated by $5246.50. We returned that amount within the 60day limits.
3. Received 1099r for the gross or original amount of the RMD, which included the returned amount $5246.50.
4. Called financial advisor. It is on a 5498, as a rollover contribution.
5. I added it in deductions, investment deductions and credits
Did you have any retirement contributions or investment expenses for 2023? YES
Traditional IRA marked yes
Did I make a contribution to a traditional IRA in 2023? YES
Is this a repayment of a Retirement Distribution? YES
Military Reserves? NO
Tell us how much you contributed.
THIS IS THE AREA THAT I AM STUCK. NOTE indicates rollovers are reported on Form 1099r and are a non taxable transaction. This is taxable credit for a return.
Thank you for your help.
