Hi Mike9241,
I am grateful that you spent time to educate and help me with my issue! I not only learned from you about 60-day rollover, one-rollover-per-12-months limitation, and other RMD rules, I also got guidelines on how to use TurboTax to report the factual 2023 RMD distribution and tax.
The reason I am upset with Vanguard, is that their retirement department only told me they would put $28,000 on the 1099-R, and nothing else. Their mentioning box 2 of 2023 form 5498 would have shown me the place for the rollover information, thus given me peace of mind. The form is standard and has nothing to do with giving me advice on taxes.
I have a follow-up question with form 5498. For the 2023 tax return for San Diego County taxpayers, the IRS extends the filing deadline to 06/17/2024. Had it not been the case, would I have to file an IRS tax extension as Vanguard form 5498 always comes in May, past the normal April 15 deadline? I am asking in case Vanguard makes a similar RMD over-distribution in future.
Thank you again for your reply, which I am keeping for learning.
Best,
ttlc22019
