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Ridgecane
Returning Member

IRA ROLLOVER

i used "guide me" and answered the question that YES I rolled over the IRA distribution that I had previously taken.

I rec'd the message that my distribution would NOT be taxable.

However, it did go onto my form 8606 and is showing a taxable portion on my 1040.

 

What entry do I have to make, so that is is NOT taxable?

2 Replies
macuser_22
Level 15

IRA ROLLOVER

Was this originally taken as a RMD and you are 70 1/12 or older?

 

If yes, then  delete the 1099-R and re-enter.  Check the box that says, "None of this distribution was a RMD" (there were no RMD's in 2020).    Then the rollover should work.

 

If not, post back with what happens.

**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.**
Bsch4477
Level 15

IRA ROLLOVER

When you are asked if distribution is a RMD answer “No”.  Then say all was rolled over. 

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