Hal_Al
Level 15

Retirement tax questions

If you received an erroneous 1099

You have several choices:

  1. Ideally, you get a corrected 1099-R from the payer
  2. Don't report it on your return. Attach a copy of the 1099 and a statement explaining the circumstances. You can't e-file. From the IRS instructions: Form 1099 incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.
  3. After entering the 1099-R, tell TurboTax you rolled it over. 
  4. Do nothing and hope you can explain it away when & if the IRS contacts you