Question

Where doesTurbo Tax reflect the ROLLOVER of an MRD payment from an IRA?

Forum|Forum|5 years ago
February 15, 2021
1 reply
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For Tax Year 2020 MRD was repaid as a ROLLOVER but I cant find it in the Tax Documents from TURBOTAX, where is it reducing Taxable Income?

TurboTax Premier Online

VolvoGirl

Employee

If it was from a IRA it should be on 1040 line 4a and 4b.

It will show as income on the Turbo Tax Summary or Review so check the actual 1040. The amount should be on line 4a or 5a and say ROLLOVER by the taxable lines 4b or 5b. See my screen shots on this post,
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-rerurned-rmd/01/1798385/highlight/false#M168534

Was any withholding taken out? If it was then did you replace the withholding with your own money? Otherwise the withholding will be a taxable distribution itself. You will still get credit for any withholding taken out in box 4.