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1099-R includes rollover and form 5498 includes QCD

My 2020 form 1099-R is accompanied by two 5498 Forms.  One 5498 covers my Roth conversion and Qualified Charitable Distributions (QCD).  I know how to enter this.  The second 5498 includes both required minimum distributions that were reversed, i.e. rolled over before August 2020 and a QCD, hence the problem.  How do I fill out the 1099-R for the rollover that accurately reflects the amount rolled over and the QCD that is incorrectly included.  If I use the full amount, it will all be reported as non-taxable.  That is the same result the I should achieve if I accurately report the amount actually rolled over and the QCD.  Do I just ignore the QCD and report the full amount as a rollover?

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2 Replies
Expert Alumni

1099-R includes rollover and form 5498 includes QCD

You will need to split your 1 1099R into 2 1099Rs and enter them separately in TurboTax to reflect the correct QCD, Roth Conversion, and RMD rollover.  In the 1099R input screens you will need to input the Roth Conversion and QCD on 1 1099R and the RMD rollover on the other 1099R.  The total of the 2 1099Rs for each box should equal the 1 1099R you received.   Remember, the IRS only cares about totals and matching them to your return from the 1099 information they receive.  How you manipulate the input TurboTax to get to the totals you need to report on your tax return is not important.  What's important is when you are ready to file your return, the total amounts from the 1099R are reported on 4A and 4B of your filed return.

Returning Member

1099-R includes rollover and form 5498 includes QCD

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