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New Member
posted Dec 4, 2023 6:59:37 AM

Can you add a note on line 5b that there was a rollover contribution caused by an error in prior rmd distribution?

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1 Best answer
Level 15
Dec 4, 2023 8:06:32 AM

When entering the Form 1099-R from the qualified retirement plan, simply indicate the portion of the distribution that was actually RMD and indicate that you moved the remainder to another retirement account (or back to the same account) as a rollover.  TurboTax will automatically include the notation "ROLLOVER" next to line 5b.  Nothing on your tax return needs to indicate the reason for the rollover.

2 Replies
Level 15
Dec 4, 2023 8:00:23 AM

if you rolled back into your IRA within 60 dayts, and you answer the question after CONTINUE correctly,

TurboTax will add "Rollover" for you.

 

@jjsoffer 

Level 15
Dec 4, 2023 8:06:32 AM

When entering the Form 1099-R from the qualified retirement plan, simply indicate the portion of the distribution that was actually RMD and indicate that you moved the remainder to another retirement account (or back to the same account) as a rollover.  TurboTax will automatically include the notation "ROLLOVER" next to line 5b.  Nothing on your tax return needs to indicate the reason for the rollover.