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By mistake Taxpayer took 2021 more than RMD amount (by way of stock transfer to the taxable account). Within 60 days the excess amount was returned to the brokerage account but 2021 Form 1099-R was issued the original amount of RMD plus excess amount. The brokerage said they will issue revised (corrected) Form 1099-R in mid May.
In this situation, is there any remedy available before mid May? I am thinking to extend tax return and file it after revised Form 1099-R is reported to the IRS..
Thank you in advance. choi 63
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dd4vols
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Form 1099-R wks>>>>Page 2>>>>line B2
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Thank you very much. chj63
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"The brokerage said they will issue revised (corrected) Form 1099-R in mid May. "
I'm surprised they will bother to do that. The issuer doesn't always know what else happened after the distribution, nor care. If the rollover qualifies, just enter that info while working with the 1099-R worksheet. You will see the Form 5498 that proves it happened.
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