Got a client that took a distribution out of 401k and placed in a IRA account, but distribution code still showing "1" in box 7 with taxable amt showing in box 2a. She has a statement from the IRA account showing it is a rollover account where she gets smaller amts withdrawn out since she was laid off from her job. Isnt the rule that a taxpayer has 90days to put money into a qualifying account after withdrawal if not a direct rollover? Also she recieved a severance package amt. Where does that go on return?
HELP!!!! :unsure:
