The 1st week of December I took the RMD from IRA account. Due to a misunderstanding, a second RMD in the same amount was taken the third week of December 2019. When I discovered the mistake January 20, 2020 I asked them to reverse the second withdrawal. It was placed back into my IRA and was called a contribution. They gave IRS a 1099=R showing $40,000.00 when in reality I only received $20,000.00.
They withheld income tax on the $40,000. How do I report the reversal so I do not have to pay taxes on $40,000.00? Because it was reversed within 60 days, it is legal.
