Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
R
rsingletary07-gm
February 3, 2021
Solved

In January 2020, I contributed $12k to a Roth IRA with Fidelity. Days later, I withdrew and sent to Vanguard. Received a 1099-R from Fidelity for full $12k. Please help!

  • February 3, 2021
  • 1 reply
  • 0 views
Vanguard is able to recharacterize the $6k for 2020 to an indirect rollover. However, they say it's too late to do the same for the 2019 contribution. A tax advisor said the TurboTax software might be able to handle communicating this issue to the IRS.
Best answer by ColeenD3

If you reinvested via rollover into the same type of account within 60 days, TurboTax will show you how to exclude the amount from income.

 

1 reply

ColeenD3
ColeenD3Answer
February 3, 2021

If you reinvested via rollover into the same type of account within 60 days, TurboTax will show you how to exclude the amount from income.

 

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification