IRA distribution

[carnuts4]

Received 1099-R but paid the funds back within 60 days and the form doesn’t show the repayment. Where do I enter that the funds were repaid on turbo tax?

[DoninGA · Accepted solution]

After you have completed entry of the Form 1099-R in the TurboTax program you will be asked what you did with the money.  You need to select that you moved the money to another or the same tax deferred account.

[DawnC]

After you enter the form, there will be follow up questions.   One of the questions will be, what did you do with the money.   When you come to that screen, tell TurboTax you rolled the money over to another retirement account.  

[VolvoGirl]

After you enter the 1099R it will ask what you did with it.  Pick you moved it to another account even if you put it back in the same account.  Then that will expand and ask how much.  Did they take tax withholding out of it?  If they did you had to replace the withholding with your own money or the withholding becomes a taxable distribution.  What code is in box 7?