1099-r with 60 day rollover

[Rogowskil]

I withdrew money from a IRA and replaced within the 60 day rollover period,  My 1099-r shows a normal distribution (7) which makes the withdraw taxable.  It should be non taxable.  How do I enter data into TT to make it non taxable?

[MinhT1]

The amount you rolled over within the 60-day period is not taxable.

Enter your form 1099-R by following these steps:

1. In TurboTax, open your tax return
2. Click on Federal in the left-hand column, then on Wages & Income on top of the screen
3. Scroll down to All Income, locate the section Retirement Plans and Social Security and click on Show more
4. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).

 After entering your form 1099-R, click Continue until you reach the screen Did [name] repay any of this distribution?. Check the radio button which corresponds to your situation then click Continue and follow the interview. The amount that you enter as a repayment will be excluded from taxation.

@Rogowskil

[Edited 03/16/2021  |  10:20 AM PST]

[Rogowskil]

I don"t get a screen asking for any roll over infor.

[MinhT1]

The rollover information is entered in the screen Did [name] repay any of this distribution?

See this screenshot: 

[colonylakes]

Thank you .  This was very helpful with this section.

[nlions66]

Apparently something changed because I never see that page

[nlions66]

In the 2022 version I'm using there is no "all income" to scroll down to when you go the wages and income page. 

[DoninGA]

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@nlions66 wrote:

Apparently something changed because I never see that page

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@nlions66 wrote:

Apparently something changed because I never see that page

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Nothing changed.  After you have entered the 1099-R there are several screens asking for more information. Once of the screens asked if you rolled over the distribution to another tax deferred account.

[nlions66]

Sorry but in my TurboTax Deluxe the only screens that follow are

• Did you take any disaster contributions
• Any Nondeductible Contributions
• Tell Us more about this retirement plan distribution

Thats it. Nothing about a rollover

[DianeW777]

Continue through the TurboTax interview. The rollover question is coming after the screen with the questions you note. As you continue to the next screen 'Do any of these situations apply to you?' select None, if appropriate and the next screen will ask about the rollover. 'Tell us if you moved the money through a rollover or conversion', (here you will make your selection about the rollover).

See the image below.

TurboTax Desktop - 

@nlions66

[Edited: 01/27/2023 | 6:54a PST]

[nlions66]

Been thru that section a dozen times and never see that. I can't start over without losing all my data entered so far, so I have to either "Visit All" or Update the IRA, 401K, etc entries and neither route gets me to that question. 

[DianeW777]

In your saturation, you should first clear your cache and cookies. It handles many issues that seem nonsensical on a regular basis. 

• Close your TurboTax return first.

Watch to be sure you are selecting 'all time' as example.  Do not use selections like 'last hour' for those browsers that give  you options.

• How to clear your cache

Once this is complete open your return and select to enter your income. 

1. Select Federal in the left menu and then Wages & Income, OR 
2. Search (upper right) type 1099r> Jump to... link
3. Begin your entry

Also, you might consider deleting your 1099-R and reentering it. As you can see, I was able to reach the necessary screen in both platforms.

@nlions66

[Lwgoldstein]

Too much was taken out for my Rmd. The excess was put back into my Ira within 60 days. I can’t figure out to show that in TurboTax. 

[Lwgoldstein]

I don’t get that question in 2023

[Lwgoldstein]

I don’t get that question in 2022