Please explain. You cannot fund a Traditional IRA with Roth IRA money.
I The Internal Revenue Service considers return of funds to the account within 60 days a tax-free rollover.
I verified that Turbo is treating it as a taxable amount by deleting 25,000 from the 1099 and it changed from owing $ to getting a refund
Could Box 7 of 1099-R show wrong code? 1099 Distribution code 7 (Normal distribution)
I am confused. You took money out of a Trad IRA, then from a Roth IRA, and then put money back into the Trad IRA. Why didn't you just take the money from the Roth in the first place?
Were you supposed to take a Required Minimum Distribution (age 70.5+) in 2017?
Timing of liquidating stocks in IRA required taking from Roth, no RMD for 2017.
I re-entered the 1099 info and confirmed the refund amount up top. Solved! Thks