Thank You for your reply, however I have an additional question. With respect to the 1099-R I received from Schwab the amount recorded in Box 1 & 2 does not reflect the correct amount of distribution. These 2 boxes represent the total distribution prior to the dollars that were put back into my 401-K account. This is because the RMD was taken prior to my knowledge that I did not have to take an RMD. The total dollars put back into my 401-K was the total distribution less taxes submitted by Schwab to the IRS.
I was informed by Schwab the a corrected 1099-R would not be issued but at a later date a form 5498 would be issued to reflect this discrepancy.
On Turbo Tax do I enter the correct amount in Box & 2a which would be the amount of the taxes submitted to the IRS? If I enter the incorrect amount (the amt shown on the 1099-R) my income becomes inflated.
Exactly how do I handle this entry to properly reflect what has happened above.
Thank You
Robert Hall
