jeffferysr
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 1
		
	
				
		
	
		
			
    
	
		
		
		02-21-2025
	
		
		09:56 AM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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Client received a 1099R with a Distribution code of 1M. The taxable amount was actually rolled over to an IRA. How do I handle this situation?
		
			
				
						
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			Level 15
		
	
				
		
	
		
			
    
	
		
		
		02-21-2025
	
		
		10:17 AM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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Scroll down the 1099R worksheet to the rollover section.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
			
		
			
	
	
			
				
		
		
			qbteachmt
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 15
		
	
				
		
	
		
			
    
	
		
		
		02-21-2025
	
		
		12:32 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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1099-R is for money Out. They don't know what else happened after this.
M is loan offset for leaving a job still owing.
Did your taxpayer put their entire outstanding loan balance into the IRA? Or are they just making payments to their own IRA?
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