topic Re: Rollover done in 2020 Feb for 2019 Dec Distribution in Retirement tax questions

Rollover done in 2020 Feb for 2019 Dec Distribution

aiksiongkoh — Sun, 22 Mar 2020 00:24:00 GMT

I took an IRA distribution in late Dec 2019. I rolled back some of the distribution in early Feb 2020. I was within the 60 day time limit to rollover. The 2019 1099-R shows only the distribution. How do I enter the rollover to reduce the 2019 income?

Thanks,

Aik-Siong Koh

Re: Rollover done in 2020 Feb for 2019 Dec Distribution

VolvoGirl — Sun, 22 Mar 2020 00:27:05 GMT

After you enter the 1099R keep going. It will ask what you did with it. You can pick you rolled it over or put it back into the same account.

Re: Rollover done in 2020 Feb for 2019 Dec Distribution

dmertz — Sun, 22 Mar 2020 00:27:55 GMT

Enter it the same as if the rollover was completed in December 2019. Enter the Form 1099-R exactly as received under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R) and answer the questions to indicate that you moved the money to another retirement account (or returned it to the same account) and indicate that amount that you rolled over.

Re: Rollover done in 2020 Feb for 2019 Dec Distribution

aiksiongkoh — Wed, 25 Mar 2020 19:34:08 GMT

Thanks. It worked.