MarilynG1
Expert Alumni

Retirement tax questions

I would advise you seek out an attorney for this matter.

 

You shouldn't change the amounts on a 1099-R (the IRS has a copy).

 

The Code 1K in Box 7 indicates an 'Early Distribution, with No Known Exception, of IRA Assets not having a readily available FMV'.

 

If you have documentation that the real estate company bankrupted, and your assets are now worthless, (you lost 100K),  you should qualify for an exception, at least for the 10% penalty.

 

Do you have any statements or forms showing the activity of your account?  

 

Here's some info on how to Find a Verified Tax Pro that may be able to help. 

 

 

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