dkh
Level 15
01-22-2024
10:28 AM
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So you have a 1099-R showing a Gross distribution and taxable amount but taxpayer had timely repaid the amount showing on 1099-R .... - correct
Just enter the correct amount in taxable amount. ( distribution minus repayment = taxable )
Keep paperwork that proves the taxpayer timely repaid if IRS questions the taxable amount.