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Retirement tax questions
Yes you must amend to report the 1099-R.
I assume that the box 7 code is an "M" or "M1"?
You would either have to pay the tax owed or rollover the box 1 amount to a Traditional IRA by replacing that money with other funds. You have until the extended due date (Oct 15, 2020) to do that.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
ā€ˇFebruary 21, 2020
9:29 AM