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March 15, 2025
Question

I filed a 1099-R because I withdrew money from my Roth IRA and 10% was withheld. But I deposited the full amount back within 60 days. How do I get a refund on the 10% ?

  • March 15, 2025
  • 2 replies
  • 0 views
My Roth IRA told me to give a document to my tax preparer but I'm using TurboTax and I don't know what form to fill out. It shows my repayment within the 60 days.

    2 replies

    DoninGA
    Employee
    March 15, 2025

    After you entered the Form 1099-R there would have been a series of screens asking various questions.  One of the screen would have asked what you did with the money, you should have indicated that you moved the money to the original or another tax deferred account.

     

    Making this a Rollover.  On your federal tax return, Form 1040 on Line 4b the taxable amount entered should be 0 and there will be the word ROLLOVER entered to the left of Line 4b.

     

    Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

    VolvoGirl
    Employee
    March 15, 2025

    After you enter the 1099R you will get credit for all the withholding taken out on 1040 line 25b.   Did you deposit the full amount back including the 10% that was taken out?