In error I took an excess RMD (Required Minimum Distribution) from my rollover IRA. Within three days, the error was reported to Vanguard and they performed an “indirect rollover” in the proper amount which reportedly corrects the problem. Unfortunately, the Vanguard 1099-R reflects the original erroneous amount rather that the corrected amount. Vanguard advised that they will produce a Form 5498 in May. Due to the excessive RMD reported on my 1099-R, Turbotax Premier understandably reports an incorrect tax. I was able to generate an altered 1099-R with explanation and it appears to make things right. My question; Is the correct way to resolve the matter or is there another solution?
