MaryL1
Level 2
03-23-2020
05:05 PM
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I have a 1099-R for a Traditional IRA. Box 1 shows total distribution of $62,500. Of this amount, $50,000 was redeposited under the 60 day rule and has no tax consequence. I've adjusted Box 2A to reflect the taxable amount of $12,500. Distribution Code is 7. Once I check the IRA/SEP/SIMPLE Box, the entire amount of $62,500 becomes taxable. What am I missing?
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