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Retirement tax questions
I took the RMD and subsequently returned it back to my IRA account. I was told there would be no tax consequences and no tax form would be generated. To my surprise, my managing brokerage house issued 1099R anyway. The customer service says I must enter Form 5498 as a Rollover. I am not so sure how it is done. Do I enter 1099R as if I took the money and then enter 5498 for the same amount? Please help.
March 9, 2021
12:05 PM