I had a withdrawal but was not able to pay the total amount back to the IRA. I did pay back partial in the correct time. how do I put in that amount as was listed on the 5498 verses the total amount on the 1099R in TurboTax? Also could I reduce the amount on withdrawal showing what I did put back into an IRA?
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Please follow these steps in TurboTax Desktop:
Please follow these steps in TurboTax Online:
I never see the "tell us what you did..." on any screen after entering my 1099R
I needed to show that not all of the distribution was RMD. Then ttax asked what I did with the remainder of the distribution
You cannot rollover an RMD. Therefore, if you indicate all of your distribution was an RMD you will not get the follow-up questions to tell TurboTax this was a rollover.
If you took more than your RMD then you can rollover the extra amount only by following these steps:
my mistake was to take the RMD question to mean: did the distribution include the RMD? In fact the distribution was all in excess of the RMD. Once I corrected my mistaken answer to the RMD question, all fell into place. This was a big help because I'd been advised, including by a ttax expert by phone, that I would require a Corrected 1099R.
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poncho_mike
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