Skip to main content
February 17, 2025
Solved

Do i redo RMD showing rollover or just report IRA Contribution if after taking RMD as use where I want, i decided to make an IRA contribution to reduce taxes.

  • February 17, 2025
  • 1 reply
  • 0 views
No text available
    Best answer by JohnB5677

    If I understand correctly: you received an RMD, and then made a contribution to a traditional IRA.

     

    If that is the case, you would enter the RMD and select "I did something else with the money."

    This is not a rollover.

     

    You would then record the contribution under Federal

    1. Deductions & Credits
    2. On the center drop down menu
    3. Select Traditional and Roth IRA Contributions
    4. Enter as a Traditional IRA
    5. Continue to follow the interview.

     

     

     

     

     

    1 reply

    JohnB5677
    JohnB5677Answer
    February 17, 2025

    If I understand correctly: you received an RMD, and then made a contribution to a traditional IRA.

     

    If that is the case, you would enter the RMD and select "I did something else with the money."

    This is not a rollover.

     

    You would then record the contribution under Federal

    1. Deductions & Credits
    2. On the center drop down menu
    3. Select Traditional and Roth IRA Contributions
    4. Enter as a Traditional IRA
    5. Continue to follow the interview.

     

     

     

     

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"