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Retirement tax questions
Because the new custodian does not know if the holding period was met, code T is the correct code to be ion this Form 1099-R.
As I said above, the IRS will be unaware that you changed the code to Q for entry into TurboTax because this detail is not sent to the IRS unless the Form 1099-R shows federal tax withholding in box 4.
March 20, 2025
11:30 AM