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tpenrose
New Member

I took out a distribution from my IRA and repaid the distribution within 30 days but my 1099-R reflects the total distribution. How do I adjust the distribution?

 
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LeeM
New Member

I took out a distribution from my IRA and repaid the distribution within 30 days but my 1099-R reflects the total distribution. How do I adjust the distribution?

After you enter your 1099-R into TurboTax, you'll be asked some questions about the distribution.  One of these questions will be What did you do with the money?  You'll check the box saying you moved it to another retirement account (or returned it to the same account).  Then you'll be asked how much of it you put back, and you'll say all of it.

Those two answers will result in the distribution not being taxed.

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3 Replies
LeeM
New Member

I took out a distribution from my IRA and repaid the distribution within 30 days but my 1099-R reflects the total distribution. How do I adjust the distribution?

After you enter your 1099-R into TurboTax, you'll be asked some questions about the distribution.  One of these questions will be What did you do with the money?  You'll check the box saying you moved it to another retirement account (or returned it to the same account).  Then you'll be asked how much of it you put back, and you'll say all of it.

Those two answers will result in the distribution not being taxed.

tpenrose
New Member

I took out a distribution from my IRA and repaid the distribution within 30 days but my 1099-R reflects the total distribution. How do I adjust the distribution?

That did not happen.  I never was asked about the what I did with the distribution.
LeeM
New Member

I took out a distribution from my IRA and repaid the distribution within 30 days but my 1099-R reflects the total distribution. How do I adjust the distribution?

Once you log back into TurboTax, type 1099-R in the search field and then select "Jump to 1099-R". Once you verify the information (you may need to select EDIT beside the Form 1099-R, keep answering the questions. It's the 5th or 6th questions after entering the 1099. I've added a screenshot to my answer of what screen you're looking for and what to select.
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