2022320
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

rhubarb33
New Member

If i withdrew 24000 from one ira & opened a new ira with adifferant bank (not a direct rollover) how do i claim this?

 
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

If i withdrew 24000 from one ira & opened a new ira with adifferant bank (not a direct rollover) how do i claim this?

Assuming it was a Trad IRA to Trad IRA  that was the only such one you did in the preceding 12 months, and that you did so within 60 days, enter the 1099-R in Federal > Wages and Income > Retirement.  There will then be questions; one asks about a rollover.

 

The TT Income Summary will show only the gross amount, and is just FYI.  Your actual tax return will list both the gross and (zero) taxable figures, along with the word Rollover.  

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question