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Retirement tax questions
So I took a total withdrawal from my traditional IRA in Dec 2024 and PLANNED to do a rollover to a qualified plan within the allowed 60 day period which would have been in 2025. So in 2025, I received a 1099-R for this IRA distribution that show Box 2a (Taxable Amt) as $0 and Box 7 code as "G"-Direct Rollover..
Now, the distributed Trad IRA funds were NOT rolled over in 2025 as planned so is this Trad IRA money taxable in 2025? If so How do I input the 2024 1099-R form in my 2024 TT software to show the money will be taxable in tax year 2025?
‎April 14, 2025
7:49 PM