In 2016 I took a loan from my Roth IRA and repaid within the 60 day window. I received a 1099 on the distribution from the IRA. How do I enter the repayment?
You'll need to sign in or create an account to connect with an expert.
You are going to enter the 1099R, and then the questions that follow will ask if it was rolled over or returned to the same account and you will mark that box and then it will ask if all or some of it was, and you will say "all" if that is the case in your situation.
If all was returned within the 60 days, it will be a non-taxable event on the return.
To report it do as follows:
To enter pension and annuity Payments (1099-R)
You are going to enter the 1099R, and then the questions that follow will ask if it was rolled over or returned to the same account and you will mark that box and then it will ask if all or some of it was, and you will say "all" if that is the case in your situation.
If all was returned within the 60 days, it will be a non-taxable event on the return.
To report it do as follows:
To enter pension and annuity Payments (1099-R)
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
MayFairLady
New Member
camassa
Returning Member
GoBrowns69
Level 1
mateo5224
New Member
saa377
New Member