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Retirement tax questions
You have to go by what actually happened, it is an indirect rollover. However, as long as you completed the process within 60 days, no tax is owed. You just can't do another indirect rollover for 365 days.
You have two options. Simplest is to simply report the 1099-R with whatever it says, even though it is technically incorrect. More complicated is to report the rollover using a "substitute 1099-R" that you create in Turbotax that uses the correct codes. I would probably just report whatever the 1099-R says, your tax return won't be any different.
‎November 7, 2022
12:23 PM