topic IRA ROLLOVER in Retirement tax questions

IRA ROLLOVER

Ridgecane — Wed, 20 Jan 2021 15:38:08 GMT

i used "guide me" and answered the question that YES I rolled over the IRA distribution that I had previously taken.

I rec'd the message that my distribution would NOT be taxable.

However, it did go onto my form 8606 and is showing a taxable portion on my 1040.

What entry do I have to make, so that is is NOT taxable?

Re: IRA ROLLOVER

macuser_22 — Wed, 20 Jan 2021 15:56:13 GMT

Was this originally taken as a RMD and you are 70 1/12 or older?

If yes, then delete the 1099-R and re-enter. Check the box that says, "None of this distribution was a RMD" (there were no RMD's in 2020). Then the rollover should work.

If not, post back with what happens.

Re: IRA ROLLOVER

Bsch4477 — Wed, 20 Jan 2021 15:57:36 GMT

When you are asked if distribution is a RMD answer “No”. Then say all was rolled over.