Received a 1099R from Fidelity Investments due to fraudulent approx $50,000 withdrawal from IRA account. Working with Fidelity to get this money "back," and sofar have recovered about 60%. Money is currently in a Fidelity cash account and have been advised by Fidelity that they will transfer it back to the IRA account and issue an adjusted 1099R. However, this will not happen for several months - so; trying to file an extension.
But; if I enter the "wrong" 1099R I will have to pay thousands in taxes with my extension :( (Of course fraudster only took the minimum tax distribution route.) If I do NOT report this 1099R I am sure the IRS will send me a notice. Could I adjust the amounts in filing this 1099R to the amounts I believe are correct - thereby avoiding having to pay for my extension?
Sincerely appreciate any input.
Thanks, Emile
