turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jc41
New Member

I took a distribution from my 401K and put it back into the same 401K within the 60 day time period allowed by the IRS or the big financial company that holds my 401K. Should I subtract the amount I took out from my 1099R? Or what?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DawnC
Expert Alumni

I took a distribution from my 401K and put it back into the same 401K within the 60 day time period allowed by the IRS or the big financial company that holds my 401K. Should I subtract the amount I took out from my 1099R? Or what?

No, do not edit your 1099-R.  Enter the 1099-R exactly as you see it.   After you enter it, there will be follow-up questions, and you will be asked what you did with the money.   That is where you will tell TurboTax that you rolled it over, and TurboTax will make the necessary adjustments.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies