cherylgolich
Level 2
04-03-2021
03:14 PM
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I record the repayment in ProSeries so that the distribution is not included in taxable income?
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qbteachmt
Level 15
04-03-2021
03:17 PM
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As long as it was redeposited into the same account or account type and as long as it was done timely (by Aug 31, if distributed earlier in the year), then you mark this as a Rollover. Normally, that would not be eligible for rollover, but this time, it's the same as a rollover.
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qbteachmt
Level 15
04-03-2021
03:18 PM
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Oh: that assumes the entire amount was put back. If there is withholding, that needed to be paid in from on hand funds. Or, you have a Partial rollover.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
cherylgolich
Level 2
04-03-2021
03:21 PM
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Thanks #qbteachmt
