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walt50
New Member

Repayment IRA distribution?

I made a repayment of $5000 on a IRA distribution. I entered the  total of $24,000 which shows on the 1099 and the $5000 repayment on the turbo tax app but it does not subtract the amount when I enter done button?


1 Best answer

Accepted Solutions
PaulaM
Expert Alumni

Repayment IRA distribution?

The software won't change the amount in the above second attachment because the total still exists on the 1099-R form. That's just a total of your 1099-R amounts, not the tax treatment.

Pre-view the 1040, lines 16a and 16b. The adjustment should be reflected on the form.

  • Select My Account
  • Tools
  • View my Tax Summary
  • Select Preview my 1040 in gray near the top of your screen
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PaulaM
Expert Alumni

Repayment IRA distribution?

The software won't change the amount in the above second attachment because the total still exists on the 1099-R form. That's just a total of your 1099-R amounts, not the tax treatment.

Pre-view the 1040, lines 16a and 16b. The adjustment should be reflected on the form.

  • Select My Account
  • Tools
  • View my Tax Summary
  • Select Preview my 1040 in gray near the top of your screen
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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