Hello, Last year my husband tried to start an IRA account. However, a couple of days later, he had to close the account due to a family emergency. He has received a 1099R from the bank. Nevermind, that the person at the bank that set it up didn't do so correctly. Does he have to report the 1099R on his taxes, even though he closed the account within the window that the bank told him he could do so without incurring the necessity to pay early distribution taxes/fees? Reporting it takes him from a refund to owing. Thanks.
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