Should I be considering this taxable income for 2020? Received a 1099-R for a distribution but was repaid within 33 days...

I withdrew funds from Traditional IRA but repaid the funds in 33days... Should I consider taxable income?

posted

No, as long as you re-deposited the fund in the original IRA, or rolled it over to another IRA within 60 days, it will not be taxable, nor subject to an early withdrawal penalty if you are under age 59 1/2.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Hi, I received my tax return on February 9th, then filed an amended tax return on February 25th and don't see it. The IRS also apparently has no record of it. Help?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Should I be considering this taxable income for 2020? Received a 1099-R for a distribution but was repaid within 33 days...

Should I be considering this taxable income for 2020? Received a 1099-R for a distribution but was repaid within 33 days...

Get more help

Do you have a TurboTax Online account?

Should I be considering this taxable income for 2020? Received a 1099-R for a distribution but was repaid within 33 days...

Do you have an Intuit account?

Should I be considering this taxable income for 2020? Received a 1099-R for a distribution but was repaid within 33 days...

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert