Rollover IRA

Forum|Forum|4 years ago
February 10, 2022
3 replies
16 views

In 2021 I had asked Fidelity to send a check of $2000 from my IRA to a charity as part of the QCD. When I enquired with the charity, the charity said they did not get the check (after enough time has elapsed). So I called Fidelity and they offered to stop payment on the check and issue an another check to the charity. This time, I had asked Fidelity to mail the check of $2000 to me so that I can personally hand over the check to the charity. They did. The problem is that the amount of $2000 from the cancelled check was credited back to my IRA account and a fresh amount of $2000 was withdrawn from the IRA for the check that they mailed to me. Hence in 1099-R I see that the amount withdrawn is $4000 instead of $2000. When I contacted Fidelity about this matter, they said that they did a 60 day rollover to the IRA and the form 5498 shows this contribution of $2,000. They say that I should be able to claim this rollover $2,000. Can you please let me know where and how I can enter this rollover IRA so that my income reflects actual amount and not $2,000 more than what I withdrew.

Thanks

Sambasiva Mantha

MinhT1

Level 15

You can do it when you enter your form 1099-R.

Enter your form 1099-R by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Wages & Income on top of the screen
Scroll down and locate the section Retirement Plans and Social Security and click on Show more
Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)

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