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kobe22
kobe22
Level 5
February 16, 2023
Question

IRA Distribution Rollover

  • February 16, 2023
  • 1 reply
  • 3 views

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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1 reply

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
February 16, 2023

yes

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