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February 6, 2024
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Rollover contribution to traditional IRA

  • February 6, 2024
  • 1 reply
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I'm retired and have no W-2 income.

I took a distribution from my traditional IRA on 5/1/23. On 5/25/23 I returned about 70% to the IRA. The 1099-R I received only showed the distribution not the net. I've been told I have to do a rollover to reduce the net income received from the IRA. How do I enter this in TurboTax.

If I try to enter the replenishment I'm told I can't because I have no earned income.

    Best answer by VolvoGirl

    After you enter the 1099R it will ask what you did with it.  Say you moved or rolled it over to another account even if back to the same account.  Then it will open and ask how much.  If you are the age to take RMD from it you can't put back the RMD amount.  

    1 reply

    VolvoGirl
    VolvoGirlAnswer
    Employee
    February 6, 2024

    After you enter the 1099R it will ask what you did with it.  Say you moved or rolled it over to another account even if back to the same account.  Then it will open and ask how much.  If you are the age to take RMD from it you can't put back the RMD amount.