Rec'd 2 identical RMDs fm Fidelity; returned 1/2 to the IRA. But my 1099R will show entire amount. Can I make up a 2nd 1099R with "G" in Box 7 to show a 60 Day Rollover?

[jdmillar]

The RMDs were for 2016. I want to remove the extra tax owed on the second RMD from my '16 filing. TTax does this. But I won't have a second RMD to indicate this, other than the one I make up. I will have Fidelity documentation indicating the Rollover took place and within 60 days.

[SweetieJean]

No. The IRS gets a copy of the 1099-R. and will just change it back.

[fanfare · Accepted solution]

As long as the effect on 1040 Line 15/16 is consistent with the "official" 1099-R form(s)
OR
the IRS accepts your attached explanation of discrepancies,

it doesn't matter what 1099R you make up to get the desired effect.

And yes, it is a Rollover if you move it into an IRA within 60 days.

[Texas Roger]

If you took two separate distributions, you will get two 1099-Rs. If you only took one distribution, then you will indicate after entering the one 1099-R that you rolled over a portion of the distribution and enter the amount. You cannot make up your own 1099-R. G in box 7 is a direct rollover. It is not a rollover you do in 60 days.

[dmertz]

If these two distributions are from the same account, they will both be combined on a single code 7 From 1099-R.  In this case enter the Form 1099-R as received and in the follow-up questions indicate the amount that was RMD and the amount that was rolled over.

If this distribution was from an IRA, be aware that the one-rollover-per-12-months rule prohibits you from rolling over to an IRA another IRA distribution made to you within 12 months either before or after this one, so be careful not to violate this rule.

[SweetieJean]

Did you take two RMD's by mistake?