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MICHAELMARS
Level 6
September 30, 2026
Question

IRA distribution repaid

  • September 30, 2026
  • 2 replies
  • 22 views

client withdrew 50k then repaid 30k. Even though i entered the 50k as gross and 20k as taxable, the program is still reporting the entire 50k.

2 replies

IRonMaN
IRonMaN
Level 15
September 30, 2026

That’s because IRAs are 100% taxable unless there is more to the story like basis or rollovers.  In your case, as long as the money was repaid within the allowed time frame, counting the 30K as a rollover will get the job done.  Scroll down on the 1099R worksheet for the line to report a rollover.

Slava Ukraini!
    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    September 30, 2026

    enter the 1099R exactly as its shown (dont change whats i the boxes), if they rolled some of it over within the 60 window, you can designate that down on page 2 of the 1099R worksheet as IRonMaN mentioned previously.

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