Question

For form 8915-E what type of contribution can be considered repayment? Would contributions to a different employer-sponsored 401k count?

Forum|Forum|5 years ago
February 28, 2021
1 reply
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Can't seem to find the specifics on what classifies as an "eligible" retirement account. Both the IRA that the withdrawal was taken from and the new 401k are pre-tax accounts.

TurboTax Deluxe Online

JohnB5677

In 2020 there was an option for repayment of retirement accounts. To post this you would

enter your 1099-R
then indicate that you moved the money to another retirement account (or returned it to the same account),
that you rolled over the distribution and that you rolled over the entire distribution.

TurboTax will include the gross amount on Form 1040 line 4a or 5a but will exclude the entire amount from the taxable amount on line 4b or 5b and will include the word ROLLOVER next to the line.

These are examples of eligible retirement accounts.

Individual Retirement Arrangements (IRAs)
Roth IRAs
401(k) Plans
403(b) Plans
SIMPLE IRA Plans (Savings Incentive Match Plans for Employees)
SEP Plans (Simplified Employee Pension)
SARSEP Plans (Salary Reduction Simplified Employee Pension)
Payroll Deduction IRAs
Profit-Sharing Plans
Defined Benefit Plans
Money Purchase Plans
Employee Stock Ownership Plans (ESOPs)
Governmental Plans
457 Plans