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Retirement tax questions
So basically it was just an in and out. Money was taken out of the retirement account and put back in again. No net taxable effect. You see the problem is that if the IRS has a copy of that 1099misc, they want the taxes on it. Then when you put the money back in again, it's being done with after tax dollars and you would have to report it as a seperate contribution to that financial institution. Why then did she issue you this 1099MISC in the 1st place if it was just an in and out?
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March 16, 2023
4:16 PM