If an IRA normal distribution was deposited to Trad IRA as Transfer check pay to bank fbo my name, is that amount recorded in Turbotax in the IRA contribution section?

zeminski · ‎May 3, 2020

macuser_22 · ‎May 3, 2020

Explain what you mean by "deposited to Trad IRA as Transfer check pay to bank fbo my name"?

Distributions are reported on a 1099-R form.

Did you roll it over to another IRA within 60 days of the distribution?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

VolvoGirl · ‎May 3, 2020

If you did roll over or transfer to another IRA it is not a new contribution. Do not enter it as a contribution. By the way, you can not rollover a RMD to another IRA Account.

DJTTime70 · ‎February 10, 2023

I rolled 11,615.00 Normal Distribution from one IRA to another IRA. I have the paper work from American Funds to show that but the 1099-DIV does not have the 7G in column 7. It only shows the 7 there. Can I enter the G on the tax form. Somehow I have to show I didn't receive the funds they were just transferred.

AbrahamT · ‎February 10, 2023

If box 2a shows a 0 taxable amount, then that indicates that it was a rollover and you can safely code it as a g. But to play it safe, I would first verify this with your financial institution.

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If an IRA normal distribution was deposited to Trad IRA as Transfer check pay to bank fbo my name, is that amount recorded in Turbotax in the IRA contribution section?