how to report partial rollover of ira distribution

[jonelaker]

How do I enter/report a partial rollover of an ira distribution to prevent it from being taxed

[MinhT1]

This is how you report a partial rollover of an IRA distribution in TurboTax Online:

1. Open your tax return
2. Click on Federal in the left-hand column, then on Wages & Income
3. Navigate to the list of income categories
4. Locate the section Retirement Plans and Social Security and click on the arrow on the right
5. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
6. Enter your form 1099-R and follow the interview
7. When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
8. Follow the interview to enter the amount you rolled over

[joelo]

I received a 1099-R showing the distribution and taxes withheld and a Box 7 distribution code of 7.  The distribution was made in error (it was a duplicate of a RMD distribution that had already been made) so the net proceeds were rolled over back into the account (within 60 days).  Form 5498 shows for the tax year shows the rollover amount.  The interview does not ask me the rollover amount as noted in line 7 of your answer.  Why is that?

[MarilynG1]

After indicating that your RMD amount is $0 for this 1099-R (since it's a duplicate), you'll get a screen asking if you Rolled Over, and the following screen asks the amount rolled over. 

@joelo 

[joelo]

For some reason, those screens are not showing up during the interview process.

[JohnB5677]

The Online screen shots may be different:

The ones above are from the Desktop software.

To post the 1099-R that was returned to the original IRA:

1. Continue in the interview to:
2. Tell us if you moved the money through a rollover or conversion
3. Click the radio button for "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"

[IsabellaG]

This is the screen you will see in TurboTax Online.