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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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IRA Distribution Rollover
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kobe22
Level 2
02-16-2023
12:52 PM
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I am in receipt of a 2022 Form 1099-R $3,000 code 1 distribution. However, I went to another bank to contribute the $3,000 and received an informational 2022 Form 5498 as a rollover. Can I exclude and mark the box that states the it was an "Entire Distribution Rolled Over" so I am not taxed on it as income &/or penalized?
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Just-Lisa-Now-
Level 15
02-16-2023
12:54 PM
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yes
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
