How do I enter a timely repayment of an IRA Distribution which does not show up the 2023-1099-R?

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Best answer by dkh

So you have a 1099-R showing a Gross distribution and taxable amount but taxpayer had timely repaid the amount showing on 1099-R .... - correct

Just enter the correct amount in taxable amount. ( distribution minus repayment = taxable )

Keep paperwork that proves the taxpayer timely repaid if IRS questions the taxable amount.

Level 15

What year was the distribution made?

Answers are easy. Questions are hard!

Level 3

2023, and the entire distribution was paid back 25 days later in 2023.

Level 15

That's an indirect rollover I believe.

The more I know the more I don’t know.

dkhAnswer

Level 15

So you have a 1099-R showing a Gross distribution and taxable amount but taxpayer had timely repaid the amount showing on 1099-R .... - correct

Just enter the correct amount in taxable amount. ( distribution minus repayment = taxable )

Keep paperwork that proves the taxpayer timely repaid if IRS questions the taxable amount.

Level 15

"which does not show up the 2023-1099-R"

1099-R = for reporting money out

5498 = for reporting money in

Make sure to get the 5498 to see what the redeposit is listed as.

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