IRRA Replenished in following year

[mitaxdummy]

I withdrew $150K from my IRRA in 2020 and put back $100K in 2021.

I claimed the difference of $50K in taxable income in 2020.

Do I need to enter anything in Turbotax for 2021 for the $100K I deposited?  I'm being asked, for example, "... Did you have any retirement contributions or investment expenses for 2021". I'm guessing the answer is "NO" because I accounted for it in 2020?

Thanks.

[mitaxdummy]

I should mention that the funds were replenished within the 60 day window allowed, albeit in a different tax year.

[DMarkM1 · Accepted solution]

Yes, you are correct.  Assuming you reported a rollover of $100k in 2020, and therefore only $50K was taxable, then there was no contribution in 2021.  

If however you paid taxes on a $150K distribution in 2020, then you can report a $100K contribution in 2021.  

You can see the taxable amount of distributions on your 2020 tax return lines 4b or 5b as applicable. Depending on how you reported it last year you could see a taxable distribution of $150K in 4b/5b and then a $100K contribution in line 10 from schedule 1 to net the $50k taxable distribution.