This was not a loan from your IRA because IRAs are not permitted to make loans. Instead, this was a distribution and rollover from your IRA.
Enter the Form 1099-R under Wages & Income -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099R). In the follow-up, indicate that you moved the money to another retirement account (or back to the same account) and indicate the amount that you rolled over.
Did you take a loan or an actual distribution (where they withheld taxes)? Did you receive a Form 1099-R?
I did receive a 1099R. It was a loan. No taxes were taken out. Money was re deposited into IRA under 60 days
You talk about a 401k? This is a Traditional IRA. 1099R states distribution code 7 (Normal Distribution). Total amount was paid back within 60 days. It essentially was a loan from the IRA and paid back.
IRA or 401k, because you and the IRS received the same form, you have to report it. You can report the amount paid back as a contribution/deduction but personally, I would talk to HR and try to get an accurate 1099-R. The way it looks to the IRS right as that you took money out of your 401k and that's it.
What is the code in box 7 of the Form 1099-R provided by the payer?
Is the IRA/SEP/SIMPLE box marked?
yes it is IRA/SEP/SIMPLE . As an added note, I also received a form 5498 showing that the amount that I had withdrawn as a rollover contribution.
This was not a loan from your IRA because IRAs are not permitted to make loans. Instead, this was a distribution and rollover from your IRA.
Enter the Form 1099-R under Wages & Income -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099R). In the follow-up, indicate that you moved the money to another retirement account (or back to the same account) and indicate the amount that you rolled over.
I'm confused re: follow up. What do you mean by "in the follow up?" Is there a place to enter the pay back from 5498 in the tax forms?
When you enter a Form 1099-R and click Continue, TurboTax asks you additional questions. That's the "follow-up." On those pages that follow, TurboTax asks you what you did with the money. Answer: you rolled it over.
My copy of TT 2018 is not asking that question. I've been through it multiple times
The follow up in TT2018 does not ask the question about the rollover.
The answer above only applies to Forms 1099-R with code 1, 2 or 7 in box 7 and the distribution is not all RMD.