1099R isn't reflecting amount I returned/rolled over. How do I report that to get my withholding back?

[kruhlan]

I withdrew from my IRA, but then returned a portion of it within 60 days.  My 1099R only reflects the total amount withdrawn as fully taxable, and isn't reflecting the non-taxable amount that was returned.  I'm expecting a fom 5498, but well after I file (probably it will arrive in May).  How do I report the non-taxable amount in turbotax so I can get that tax back that was withheld when I withdrew?

[Coleen3 · Accepted solution]

You need to tell the program that you put the money back in a timely manner. 

[kruhlan]

thank you...I finally figured it out by going to the form itself; it would have been helpful if the question was phrased under "what did you do with the monies"....moved ALL OR PART of the monies to a qualified plan, or something like that.  The question currently implies one moved the entire amount, which wasn't true in my case.

[kruhlan]

Can you please confirm: there is another section under deductions for IRA contributions, and I SHOULD NOT put these returned funds there as well, CORRECT?  thank you!

[Coleen3]

The only place this should be entered is on the screen shown in the original post. This indicates that you put the money back into the same account.

[kruhlan]

Maybe that's the only place it SHOULD be entered, but given the way the question is phrased on the wizard, it was not obvious.....one CAN put it on the form as well.  I suggest turbotax rephrase the wizard as previous noted (e.g. "What did you do with the monies....Moved All or Part....")