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Pension reported as IRA Distribution in Error
I just realized that since 2020 my pension benefits have been rerported as an IRA Distribution on my federal return by mistake. Some how the box labeled IRA/SEP/SIMPLE got checked on my 2020 return and the 1099-R has carried forward like that each year. I caught it while working on my 2023 return. I've removed it and none of my numbers changed, as either way it's fully taxable. I'm well over 59 1/2 so there's no penalty involved related to early distribution of IRA money. Is there any reason I should worry about those 3 years it got reported wrong?
‎February 12, 2024
1:13 PM