How do I enter a Rollover IRA contribution in TurboTax?

[44liryC]

I withdrew from my Rollover IRA, then reversed the withdrawal when the the RMD requirement for 2020 was eliminated.  I do not have earned income so need to avoid the tax liability and penalty

[macuser_22]

A rollover is not a contribution.  Nothing shroud be entered in the IRA contribution interview.

Enter the 1099-R and say it was "moved" to another (or the same) retirement account and it was rolled over.

Delete the 1099-R you entered and re-enter.

Answer the RMD question that "None of this distribution was a RMD" or "RMD not required" depending on the TurboTax version - because it was NOT a RMD, there were no 2020 RMD's.

If this is an inherited IRA then answer the "Is this IRA inherited" with NO. The purpose of that question is to PREVENT rolling an inherited IRA over, but is allowed for 2020 only.

Then you will get the screen to say it was "moved" and all rolled over.

Also check the box that this was NOT a COVID related distributions - it was a RMD that was returned.

That will put the 1099-R box 1 amount on the 1040 form line 4a with the word ROLLOVER next to it.

[SweetieJean]

Do not enter it as a contribution.  Rather, after you enter the 1099-R in Federal > Wages and Income > Retirement, there is a question about rollovers/repayments.

The TT Income Summary will still show only the gross amount, but that is just FYI.  Both the gross and taxable (0) figures will be listed on the actual tax return, along with the word Rollover.

[44liryC]

Worked...Thank you