qbteachmt
Level 15
03-20-2021
02:35 PM
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"I have listed the 1099R as fully taxable."
The issuer doesn't know what was done with the funds, nor if there is basis in this or any other Trad IRA account, so they would mark it as Ordinary and Taxable or Not determined, coming from a deferred account type.
"Then showed the amount converted as fully converted in Box 5."
Was this Trustee-to-trustee? Was there no withholding?
"On B4 at the bottom of the 1099R form I have checked the box as fully converted."
Is that the only deferred amount and account owned by that person?
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