I have an ira distribution of 14,000.00. 10,000.00 of that was returned within 60 days. How do I correctly report this without paying taxes on the entire amount?

[Texas Roger · Accepted solution]

When you enter the 1099-R your received for the $14,000 distribution with the entries exactly as shown on the 1099-R, there will be followup questions asking what you did with the money. You would answer that you rolled over $10,000 of it. As a result of answering that question, the $10,000 will not be taxable.