How do I report a loan that I took out from my Traditional IRA , and repaid it within 60 days. This is counted as a rollover, and is not taxable. How do I report this?

[SweetieJean]

IRA loans are forbidden by law.  You took a distribution and then rolled it back.

[DanaB · Accepted solution]

You should have gotten a form 1099-R, please follow these instructions to make it a non-taxable rollover:

1. Click "Federal" from the left side of your screen
2. Scroll down and click "Start or Edit/Add" next to "IRA, 401(k), Pension Plan Withdrawals (1099-R)" 
3. Answer "Yes" to the question "Did You Have Any of These Types of Income?"
4. Click "I'll Type it Myself"
5. Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
6. Click "Continue" and enter the information from your 1099-R
7. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account (or returned it to the same retirement account)”
8. Then choose “I converted all of this money to another IRA or other retirement account (or returned it to the same account.”

[SamIAm180]

Thanks. After doing this, Do I still need to go into the Federal Deductions & Credits area and add the payback contribution that I made in this area as well, or does doing what you wrote above suffice?

[DanaB]

No, the payback is not a contribution. The instructions I gave are all you need to indicate it was a rollover. Only go into the Federal Deduction &Credit area if you contributed additional money besides the payback.