topic If I made a withdrawal from my T-IRA and my contributions include repayment of that withdrawal, do I count the full contribution for 2021, or the amt minus the repayment? in Retirement tax questions

If I made a withdrawal from my T-IRA and my contributions include repayment of that withdrawal, do I count the full contribution for 2021, or the amt minus the repayment?

bjadamae — Tue, 10 Mar 2026 06:27:14 GMT

i.e. Contributions 10k, loan pymts 8k.

Re: If I made a withdrawal from my T-IRA and my contributions include repayment of that withdrawal, do I count the full contribution for 2021, or the amt minus the repayment?

dmertz — Sun, 16 Oct 2022 13:13:24 GMT

Report it as indicated on the Form 5498 provided to you by the IRA custodian. Since the IRA custodian should have prevented you from contributing $10,000 as regular contributions, so your Form 5498 will likely show in box 1 $2,000 as regular contributions (which you would enter as your contribution for 2021). If the $8,000 is shown in box 2, it would be entered only as rollover (which you would indicate when entering the Form 1099-R for the distribution). If the $8,000 was instead a repayment of a disaster distribution, it would be entered as such.

Re: If I made a withdrawal from my T-IRA and my contributions include repayment of that withdrawal, do I count the full contribution for 2021, or the amt minus the repayment?

Critter-3 — Sun, 16 Oct 2022 16:00:58 GMT

OK ... contributions to an IRA cannot be considered repayments of prior year distributions and as such cannot be entered that way on a tax return. Same thing for 401K contributions are not considered repayments of a loan on the 401K ... they are separate things.