IRA Withdraw and Repayment - 2023

[bps2001]

I withdrew $18K from a traditional IRA in Feb 2023 and repaid the same $18K in March 2023 back into the same IRA account.  I received a 1099-R from the brokerage firm indicating that entire $18K is taxable (Box 2a) even though the $18K was repaid within 30 days.  TurboTax (CD) says the repayment is classified as "excess contributions" ($10.5K) for CY23.  How can I avoid a taxable event?

[DoninGA]

After completing entry of the Form 1099-R there will be a screen which asks what you did with the money.  You need to select that you put the money back into another or the same tax deferred retirement account.

[VolvoGirl]

And don't enter it under Deductions as a new IRA contribution.  Only enter them from the 1099R forms.  

[bps2001]

Many thanks for the timely response - I appreciate the guidance.

[bps2001]

Thank you for the timely response - I appreciate the advice.