1099-R

Forum|Forum|3 years ago
February 24, 2023
1 reply
5 views

I forgot to rollover an IRA.

The withdrawal was 3/1/2022. There was 10% withholding.

Distribution code is a 7

Is it to late to due a rollover, I could save $1600 in taxes.

xmasbaby0

Level 15

You have sixty days to do a rollover. Sounds like you missed that by not doing it by early May. Sorry.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

dborowiczAuthor

Level 2

Thanks

fanfare

Level 15

if you have compensation 1040 Line 1 you can contribute back to your IRA up to $6,000 for 2022 and $6,500 for 2023 using those funds.

@dborowicz

1099-R

1 reply

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