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1099R and QCDs
Code Y in Box 7 of 1099R is optional for companies to use for 2025 when issuing 1099s. My brokerage decided not to use code Y and used code 7 even though I had QCDs. TurboTax needs a work around for this issue. If you use code 7 you don't have the ability to enter the QCD amount and all distributions are taxable.
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