bandb
Level 3
02-17-2022
02:42 PM
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Taxpayer claims he can borrow from his IRA and repay within 60 days, without tax consequence. He borrowed in CY 2021and repaid in CY 2022. His 1099R for CY 2021 shows Box 7 Distribution Code 1. Early distribution, no known exception. How do I treat this?
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