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February 26, 2024
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Excess RMD returned to IRA 2023

  • February 26, 2024
  • 1 reply
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My broker took out a double RMD from my IRA and then returned the excess in 2023 within 30 days.  However my 1099-R has the full amount and all the taxes on that amount.  I have no other 1099 to show that the money was returned to the IRA.  What do I do?  The solutions from 2019 do not work in 2023.  

    Best answer by VolvoGirl

    Keep going it might be in the next screen.

     

    Pick I moved it to another retirement account even if you put it back into the same account.

    Then choose - I did a combination of rolling over, converting or cashing out the money

    1 reply

    February 26, 2024

    When you enter your 1099-R in TurboTax, the follow-up questions will let you indicate that you returned a portion of the distribution back to the same IRA.

     

    Here's more info on How to Enter a 1099-R.

     

    @neldal 

     

     

     

     

    neldalAuthor
    February 26, 2024

    I am not getting those follow up questions.  Just did I use it for charity, an HSA etc.

    VolvoGirl
    VolvoGirlAnswer
    Employee
    February 26, 2024

    Keep going it might be in the next screen.

     

    Pick I moved it to another retirement account even if you put it back into the same account.

    Then choose - I did a combination of rolling over, converting or cashing out the money