- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
@rdr004u wrote:
The money was put in my bank account and then immediately taken out and put into my ROTH IRA. They said they can't issue a corrected 1099-R as it is past the deadline.
If the money was put in a bank account first, then the 1099-R is correct - it is not a recharacterization - it is a return of contribution. Only the box 2a amount, if any, is taxable but that must be reported on an amended 2019 tax return.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎April 19, 2021
1:58 PM