qbteachmt
Level 15
04-08-2024
11:29 AM
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"because with no earnings so not really early distribution Think that's ok?"
Keep in mind that the 1099-R is for money Out. Then, you use the worksheet and code for what happened to it. The issuer of the 1099-R doesn't always know what happened to the money after it is distributed, or even why it was distributed when it is a request such as for medical costs or first time home buyer. That's why there is due diligence for Form 5498 when your taxpayer tells you they did a rollover or conversion, so you see the money In side of those events.
If you see what applies, you did it fine.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers