bethxu
Level 1
03-31-2023
11:36 AM
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abctax55
Level 15
03-31-2023
11:43 AM
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There are two boxes to enter the codes, on Screen13.1. Put the 1 in the first one, put the M in the second one - then enter the amounts (total distribution & taxable amount).
Or is there more to the story?
Code M is for 'Qualified plan loan offset' - does 'rollover' apply here?
HumanKind... Be Both
rayc325
Level 2
04-02-2023
08:58 AM
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I just had one of these too. It's taxable up to the amount showing on the 1099R. Rollover does not apply. It was a reduction in the plan balance to pay a loan that was in default.