KEYWEST_RICKS Posted April 3, 2017 Report Share Posted April 3, 2017 low income taxpayer received an ira dist check dated and mailed 12/30/2016...... obviously didn't receive the check in the mail until 2017....1099 is a 2016 1099... along with withholding. probably not a huge deal except for advance premium tax credit..... now the taxpayer is over 400 percent of poverty.. entire aptc must be returned....which is a huge number. does anyone think I have a snowballs chance of trying to argue constructive receipt and report this on 2017 instead of 2016 I am assuming is would get a notice and deal with that issue when I receive it..... does anyone think I would win in the end? Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted April 3, 2017 Report Share Posted April 3, 2017 Is the taxpayer over 70 1/2? Is this RMD? And which would be worse - 50% penalty on RMD or paying back advance premium tax credit? 1 Quote Link to comment Share on other sites More sharing options...
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