I sold 200 shares of AAPL stock in my SEP / IRA account [number removed] for $56,431 and I gifted 100 shares of AAPL to each of my three children. My Form 1099-R shows a Gross Distribution / Taxable Amount of $92,899.25. That amount is incorrect because the 300 share of AAPL were gifts. Meanwhile, an agent of TD Ameritrade informed me that they have only one Distribution code (7) so they cannot discriminate between taxable distributions and non-taxable gifts. Furthermore, the IRS uses the amount designated by TD Ameritrade's 2020 Form 1099-R to compute my 2020 tax. When I tried to contact my local IRS office to make an appointment to discuss the problem, I was shuffled back and forth by their bots and I could not make an appointment. Logically, that means I will have to go to the IRS Office, take a number, wait to be served, told that I need to make an appointment. make the appointment for another day, then go home and wait until that day comes to pass. I say "Logically" because that happened to me in the past.
What to do? Inquiring mind wants to know.
David S
