Question

Recd 1099-R, which had tax w held (as if I was taking a distribution); however i wasnt takin distribution and subsequently paid tax. Now info n boxes on 1099-R r wrong.

Forum|Forum|6 years ago
March 1, 2020
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TurboTax Premier Online

Can you please give me more details? Did you try to rollover the amount? If yes and you didn't add the taxes withheld amount also into the rollover account then the taxes withheld will count as a distribution.

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S

skigolf88Author

Recd a 1099 r around $500, tax had been taken out say around $100. Took to company, say fidelity, that issued it. They(fidelity) advised me to write ck for 100 back to account. So entire amount was in effect "rolled over".

However 1099 r, still had old amounts, and thus conflicts with questios in turbo tax.

Thx

J

JamesG1

If you immediately redeposited the funds, you should qualify under the 60-day rollover rules.

See this IRS publication under How do I complete a rollover?

I am assuming that box 7 of the 1099-R does not have a G in it?

See this TurboTax Help explaining how to prepare a rollover.

Make sure that when asked What did you do with the money from (bank)? to select I moved the money to another retirement account (or returned it to the same retirement account) and I rolled over all of this money.

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