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1099 R Early Distribution year 2023

Level 1

Hello intuit Accountant Community , Please I had a question,  A client received 20,000 Traditional IRA distribution year 2023 .

How to report this distribution in Pro Connect client wants to split the distribution half for 2023 and the other half for 2024.

Thank You in Advance 

Evelyn Mercedes


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3 Comments 3
Level 15

Then the client should have taken 2 distributions.  It all gets reported in the year received.

Slava Ukraini!
Level 15

Client 'wants' isn't part of the IRC.


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Level 15

Wow, where did your taxpayer get that idea? This is the only provision, in the past, and it was conversions, not distributions.

"However, under the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) these previously ineligible taxpayers will be eligible to participate starting this year (including married but separate filers). In fact, there is an incentive to take action in 2010: Everyone who converts this year may defer and spread income recognition from the conversion over tax years 2011 and 2012."

From: https://www.journalofaccountancy.com/issues/2010/jan/20091743.html


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