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Retirement tax questions
Some custodians are less than fully competent. My position is that the custodians should be made to correct their errors. Because of the the IRS's recent increase in the scrutiny of retirement-account transactions, an inappropriately issued Form 1099-R can potentially have undesirable consequences. Since a code G Form 1099-R with the IRA/SEP/SIMPLE box marked implies a rollover to a qualified retirement plan and because basis in nondeductible traditional IRA contributions is not permitted to be rolled over to a qualified plan, it's possible that the inappropriate code G Form 1099-R indicates an impermissible rollover which didn't really happen.
May 31, 2019
11:44 PM