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Retirement tax questions
Hi @dmertz, need some clarification on the break up.
1. I am breaking up the 1099-R I received from the custodian into two
2. On the first one, for box 1 (Gross Distribution) and box 5 (Employee Contribution), I put the box 5 amount from the original 1099-R
3. On the second one, for box 1 (Gross Distribution) I put the earnings amount calculated from the original 1099-R. Should this amount be placed on box 5 as well (Employee Contribution) or box 6 (Net Unrealized Appreciation)?
4. For the second 1099-R, what is the code I should use in box 7? Same as the 1st 1099-R (D-Direct rollover and rollover contribution?)
Appreciate your feedback.
‎April 8, 2023
4:21 AM