Retirement tax questions

Yes, we do provide for that in the program.

This IRS rule allows you to take money out of your traditional IRA and use it for any reason as long as you return the full amount before the end of 60 days. 

You're allowed to do this once per 12-month period.

To Post a 1099-R, and replace funds within 60 days.

Log into TurboTax

1. Under Federal
2. Select Wages & Income
3. Scroll to and select IRA, 401(k), Pension Plan Withdrawals (1099-R)
4. Now Edit or Add another 1099-R
5. Enter your Broker or plan administrator information.
6. Follow the interview to post the 1099-R as it is.
7. Continue the interview to Tell us if you moved the money through a rollover or conversion
8. Select I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
9. Did you roll over all of this $100,000.00 (Box 1) to another retirement account?
10. Select No, I rolled over less than $100,000.00.