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New Member
posted Mar 25, 2020 6:05:55 PM

My 1099 form from Fidelity includes an amount I borrowed and repayed within 60 days. How can i be sure i am not taxed on this amount?

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1 Replies
Level 15
Mar 25, 2020 6:07:42 PM

If you returned the money within 60 days of the distribution, then answer the "what did you do with the money" question, that you moved it to another (or the same) retirement account, the check the box that the money was all rolled over.

That should put the box 1 amount on line 4a with the word ROLLOVER in the 1040 form and a zero on line 4b - the taxable amount.

The box 1 amount will show as income on the summary screen since it is income - just not taxable income.