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IRS Procedure 2016-47 - Can I report it Electronically
I accidently took out $30,000 from an IRA account by mistake (thought I was in one of our standard accounts). - Massive impact on my taxes. Did not catch it until I got the 1099 IRA tax forms from Brokerage in late Feb. Finally found this procedure, filled out and Brokerage will take it and put will allow me to put the money back into my IRA. Of course IRS can reject it which could result in fees etc.
So my real question now is how can I make this change inside of TurboTax and file electronically. Or do I have to print out the Tax Return and filled the Procedure Form 2106-47 with the print out.
If i must print it all out, how do I print the least paperwork possible.
Thanks
Larry
March 29, 2025
8:15 AM