Hi,
My hubs (63 yrs-old) withdrew money from his 401K and put the majority of it back, through an IRA rollover, within 30 days. We received two 1099-Rs, one for the rollover and the second for the withdrawal. Shouldn't (box 2) the taxable amount of the withdrawal be reduced by the amount he put back, or rolled over? Both the gross distribution (box 1) and the taxable amount (box 2) are for the same amount, which is the total amount he withdrew. This seems wrong?
Please help!
Thanks so much!
