I'm 79 and took an excess IRA distribution to cover my RMD and allow a deposit to another IRA. How do I enter and show the deposit?

[dmertz · Accepted solution]

Assuming that the distribution from the original IRA occurred in 2018, you'll receive a 2018 Form 1099-R near the end of January 2019.  Enter this Form 1099-R under Wages & Income -> Retirement and Social Security -> IRA, 401(k), Pension plan withdrawals (1099-R) and in the follow-up:

• when asked, indicate the amount of the distribution that was RMD,
• indicate the you moved the money to another retirement account,
• indicate that you rolled over part of the money,
• then indicate that amount that was rolled over.

TurboTax will include the entire gross amount on Form 1040 line 4a but will exclude from the amount on line 4b the amount rolled over.  TurboTax will also include the word ROLLOVER next to the line.