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

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

Do I report 1099-R distribution from IRA if I paid all the money back within 60 days?

I made a withdrawal from traditional IRA for $16,000 in 2018.  I repaid the money into cash within the 60 day window.  Do I report this IRA distribution?  How do I report that it was repaid - so I don't pay the taxes and early withdrawal penalty?

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.

3 Replies

Do I report 1099-R distribution from IRA if I paid all the money back within 60 days?

Yes you report the distribution. You should have received a 1099-R. You enter it and then answer all the followup questions where you will indicate that you rolled it over within the 60 day time frame. To enter a 1099-R, type 1099-R in the search box and click on jump to 1099-R. 

Do I report 1099-R distribution from IRA if I paid all the money back within 60 days?

I have no problem entering the 1099-R but there is nothing asking whether the distribution was paid back within 60 days.  Where do I find this info?

 

Do I report 1099-R distribution from IRA if I paid all the money back within 60 days?

After you enter the 1099R you keep continuing through the screens and it will ask what you did with it.  You check the box that says you rolled it over to another account even if you put it back in the same account.

 

Or what code is in box 7?  And when you put it back did you replace any withholding taken out?  If not the withholding becomes a distribution and taxable.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies