Bill2220
Level 2
01-21-2024
07:26 PM
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Best Answer Click here
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George4Tacks
Level 15
01-22-2024
09:18 AM
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What year was the distribution made?
Answers are easy. Questions are hard!
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.
qbteachmt
Level 15
01-22-2024
11:53 AM
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"which does not show up the 2023-1099-R"
1099-R = for reporting money out
5498 = for reporting money in
Make sure to get the 5498 to see what the redeposit is listed as.
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