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corinne91
Level 4
March 21, 2025
Question

I have a new client, she withdrew $33,000 from her IRA, then put back $22,000 within 60 days so she should only be taxed $10,000 where can I put this information

  • March 21, 2025
  • 2 replies
  • 5 views

I have a new client, she withdrew $33,000 from her IRA, then put back $22,000 within 60 days so she should only be taxed $10,000 where can I put this information to reflect this transaction.  Appreciate your help 

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2 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 21, 2025

Scroll down the 1099R worksheet, you'll find a Rollover section.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    C
    corinne91Author
    Level 4
    March 22, 2025

    Thanks,

    Can you tell me if I should put in $22,000 or $11.000 in the rollover section, its so simple I am sure. Thank you

    IRonMaN
    IRonMaN
    Level 15
    March 22, 2025

    Sometimes it's faster to run with scissors than waiting for someone to post an answer.  Try putting the $22,000 and then try putting the $11,000 into the worksheet.  Which amount ends up showing the correct amount as taxable?

    Slava Ukraini!
      abctax55
      abctax55
      Level 15
      March 21, 2025

      $ 33,000 - 22,000 =  $ 11,000.  Not $ 10,000.   Just an observation.

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