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
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
| 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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