How to fie tax? I did a withdrawal from IRA account and then put majority of the money back into IRA within 60 days but 1099-R showing full withdrawal amount.

[chrward01]

Traditional IRA withdrawal amount 13,000. had them take out 520 for state taxes. received 12480. Put back 12,000 within 60 day timeframe.  would I still need to be taxed for full amount?

[jtax · Accepted solution]

This previous answer explains how to enter a 60-day rollover into TT. Given your facts, if you qualify for the 60-day rule (e.g. only one of them in the year), it would appear that you would be taxed on the $1000 ($13k - $12k) that you took out of the account and did not put back into a qualified account. (Note the $520 withheld for taxes isn't relevant. It is money out and money in that matters. The $520 will count at taxes paid and you might get it back as a refund, but that depends upon the rest of your tax situation.)

https://ttlc.intuit.com/questions/3606665-how-can-i-enter-a-rolled-over-1099r-within-60-days