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New Member
posted Feb 1, 2021 7:34:14 AM

IRA distribution taken and then rolled over in2020

I took an IRA RMD in January 2020 and then repaid this in July 2020.  The distribution was reported on my 1099R. Where do I report the rollover deduction so I don't include this amount on my 1040?

 

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2 Replies
Expert Alumni
Feb 1, 2021 8:14:00 AM

Please follow these steps to enter your 1099-R and RMD rollover:

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. Continue until "How much was a RMD?" and select "none"
  5. Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
  6. Continue answering the questions.

 

 You must indicate to TurboTax that none of the distribution was RMD. If you already enter the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form. 

 

 

You can verify your entry by looking at your Form 1040 line 4:

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left

 

 

New Member
Feb 1, 2021 8:53:57 AM

I had to delete the 1099R information and re-enter the distribution as -0-, no RMD and it worked! Thanks for your help.