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New Member
posted Apr 12, 2025 12:48:40 PM

Are Gross isbutions from an IRA Rollover taxed? The money remained in the IRA account and only the mandatory withdrawals have been made from the account.

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1 Replies
Expert Alumni
Apr 13, 2025 11:09:21 AM

No rollovers are not taxed. If you took more out than the RMD then you can rollover the extra amount.

 

Please follow these steps:

 

  1. Click on "Search" on the top right and type “1099-R”
  2. Click on “Jump to 1099-R” and enter your 1099-R
  3. On the "Required Minimum Distribution" screen enter RMD for this account
  4. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "Some of this distribution…" and enter the RMD amount (if this distribution includes RMD for other IRA accounts then you included the amount here)
  5. Answer the "Transfer to Charity Screen"
  6. On the “What Did You Do With The Money” and choose “I moved it to another retirement account
  7. Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount rolled over...."