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Instructions Unclear on Form 4852

I am being forced to file form 4852 due to an intransigent brokerage which refuses to provide a 1099-R. I know all the requirements for the 4852 and have met them, including having IRS send out a 63C letter.

What is not quite 100% clear for me is whether I am expected to enter the related income into my return. Instructions do not specifically state either way--they only say to enter details of the missing 1099-R on line 8 of f4852 but are silent on what goes into the return.

Instructions also say to attach f4852 to the back of the return before supporting forms & schedules but the attach sequence is 04, after schedules 1 & 3 and I want the form to be seen right away.

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5 Replies
dmertz
Level 15

Instructions Unclear on Form 4852

For what reason do you need a Form 1099-R?

If it's for a return of contribution, what year was the contribution made and when was it returned?

Instructions Unclear on Form 4852

" silent on what goes into the return."

 

It would be good to enter on your tax return what you would have entered had that missing 1099-R been supplied to you.

@Quentin818 

Instructions Unclear on Form 4852

Long story but short version is that I did online distribution from IRA well before midnight 31-Dec-2021. The funds left the account AND were in my possession in my brokerage acct immediately as cash. I believe the IRS rule is clear that the day funds leave is the day for tax purposes (whether for RMD, tax-year income, 60-day rollovers, etc.).

Brokerage has an internal rule that after 4pm, everything goes to the next business day and refuses to issue 2021 1099-R (even though reps cite the IRS rule correctly--I relied on that).

My written demands they provide the time that funds left the account gets bogus response, completely evading the question (they know the rule and cannot defend!).

One cannot see the actual day/time funds moved once things process/settle. Statements also fail to show correct date.

In any case, I'm hoping for guidance on form 4852 as noted in original post.

Instructions Unclear on Form 4852

Thx, I agree but have been only 90% certain I should put it into return as well as form 4852. Just want things to go smoothly.

dmertz
Level 15

Instructions Unclear on Form 4852

To treat this as 2021 income you would enter the substitute 2021 Form 1099-R (Form 4852) into the 1099-R section of 2021 TurboTax by marking the checkbox that tells TurboTax that you are entering a substitute Form 1099-R.  The TurboTax will include on Form 1040 as taxable income the amount amount you enter in box 2a.  TurboTax will also prompt you to enter the explanation to be included on the Form 4852.

 

Since the brokerage will be issuing a 2022 Form 1099-R reporting this income, you'll also need to include a substitute 2022 Form 1099-R with your 2022 tax return to show that this distribution was not received in 2022.

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