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Retirement tax questions
The account from which this distribution was made is apparently not an IRA. It's probably a 401(k).
You must enter the Form 1099-R exactly as provided by the payer; box 2b Taxable amount not determined must remain marked.
What is the code in box 7 of this Form 1099-R?
What amount, if any, is shown in box 5 of this Form 1099-R?
Regarding the loan repayment, did this repayment occur before or after the $17,000 distribution being reported on this Form 1099-R?
Did you receive a different Form 1099-R with code L in box 7 due to defaulting on the loan, perhaps in a previous year? If so, what was the amount in box 1 of that Form 1099-R?
March 28, 2020
2:28 PM