Rainman1966
Level 3
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Global Capital was the investment held at Providence Trust, the custodian for client's IRA. Global Capital went worthless in 2022. The Global Capital general partners were convicted of fraud and other charges in a court decision in 2022. Providence was holding a promissory note in the clients IRA and issued the 1099-R as a normal distribution. I will take the previous reply and show taxable income as zero.