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New Member
posted May 3, 2020 11:47:45 AM

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?

0 4 690
4 Replies
Level 15
May 3, 2020 12:22:02 PM

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?

 

Level 15
May 3, 2020 12:27:16 PM

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.  

New Member
Feb 10, 2023 10:32:45 AM

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.

 

Level 8
Feb 10, 2023 10:48:46 AM

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.