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Retirement tax questions
There is nothing wrong with the Form 1099-R, no overstatement. The entire amount shown on this form is taxable on your 2023 tax return. No part of it was reportable on your 2022 tax return. Regular distributions, including distributions of RMDs no matter what year the RMD is for, are reportable on the tax return for the year in which you received the distribution.
Although I don't know how you would have done it, since you apparently somehow reported as taxable income on your 2022 tax return the amount distributed in 2023 to satisfy your 2022 RMD, you'll need to amend your 2022 tax return to remove that income.
March 3, 2024
4:34 PM
679 Views