dMertz, thank you for this detail. Thank you for clarifying what "J" means as well.
I received no 1099-B
I'll try and make this easier to understand:
" The only listed reason might seem to apply is that the distribution was deposited into an remained in an account that the taxpayer mistakenly thought was an eligible retirement plan"....
dMertz, this is exactly what happened. I took that IRA Roth and by mistake put it into a non IRA account. I did this last November. I didn't realize it until I received my 1099R. Thus the custodian says I have longterm and short term gains. But I'm flummoxed as why I would have those?
Because I held the Roth for 20 years? Or because when they fix the mistake and put the $ back into an IRA, I will have to thus pay the above?
Custodian told me I will have to pay taxes in 27, for the distribution.
My goal remains to not have to pay any capital gains....which is the main task I have at hand now. This is the main issue I have now.
