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ROTH Withdraw (J) re-deposited Where to Enter Contribution

jknecht
Level 3

Friends, 

I cannot find where to show the fact that the distribution of the 8K (ROTH) was actually put back into an account.  He used it as a quick loan and deposited.  I have a 1099 R but in the program I cannot find where I put the full amount back into the Roth to show it as a rollover

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George4Tacks
Level 15

Screen 13, where you entered the distribution, look to the left column for Sections then find Rollovers. Enter the rollover there in the 2nd line 

Indirect Rollover Amounts: From a Qualified Plan or Roth IRA to a Roth IRA

Rollovers Screen 13; Code 87

For tax years beginning in 2008, a taxpayer is allowed to roll over an amount directly from a qualified retirement plan (such as a 401(k) or 403(b) account) into a Roth IRA.     Enter the amount of distribution, if the rollover was not a direct rollover (Distribution code ‘G’ or ‘H’) and was rolled into a Roth IRA from either a qualified plan or another Roth IRA.   If the entire distribution was a rollover, enter the same amount that is entered in ‘Gross Distribution’ (code 3).   Generally, a roll over from a qualified plan into a Roth IRA is taxed in the current year, and creates Roth basis moving forward so that future returns of contributions will not be taxed.

NOTE: Do not enter the conversion (rollover) of a traditional IRA, SEP, or SIMPLE IRA to a Roth IRA in this input field. Instead, enter those amounts in “Traditional/SEP/SIMPLE IRA distributions converted to Roth IRA” (screen 13.1, code 138) in the Form 8606 input section.

 


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3 Comments 3
George4Tacks
Level 15

Screen 13, where you entered the distribution, look to the left column for Sections then find Rollovers. Enter the rollover there in the 2nd line 

Indirect Rollover Amounts: From a Qualified Plan or Roth IRA to a Roth IRA

Rollovers Screen 13; Code 87

For tax years beginning in 2008, a taxpayer is allowed to roll over an amount directly from a qualified retirement plan (such as a 401(k) or 403(b) account) into a Roth IRA.     Enter the amount of distribution, if the rollover was not a direct rollover (Distribution code ‘G’ or ‘H’) and was rolled into a Roth IRA from either a qualified plan or another Roth IRA.   If the entire distribution was a rollover, enter the same amount that is entered in ‘Gross Distribution’ (code 3).   Generally, a roll over from a qualified plan into a Roth IRA is taxed in the current year, and creates Roth basis moving forward so that future returns of contributions will not be taxed.

NOTE: Do not enter the conversion (rollover) of a traditional IRA, SEP, or SIMPLE IRA to a Roth IRA in this input field. Instead, enter those amounts in “Traditional/SEP/SIMPLE IRA distributions converted to Roth IRA” (screen 13.1, code 138) in the Form 8606 input section.

 


Answers are easy. Questions are hard!
jknecht
Level 3

Thanks...I was a bonehead late at night.  

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George4Tacks
Level 15

@jknecht You are in a very large club. We have all been there. Willkommen!


Answers are easy. Questions are hard!
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