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1099R coded totally wrong


mcb39

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What do you do about a 1099R that is Coded 1 when it should be a G and they refuse to fix it even though they admit it is wrong?  They want us to file it falsely. How stupid is that?  They have 38000 coded totally taxable and worse yet, the owner is under 59 1/2.  It is a rollover.  Please advise.

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just enter the amount that was rolled over at the bottom of the 1099-R worksheet, will show zero taxable on the 1040.

Didn't need to be issued if it was institution to institution--but it could be correct if taxpayer moved the money themselves.

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On 4/11/2024 at 8:01 PM, BrewOne said:

just enter the amount that was rolled over at the bottom of the 1099-R worksheet, will show zero taxable on the 1040.

Didn't need to be issued if it was institution to institution--but it could be correct if taxpayer moved the money themselves.

This was a rollover from a retirement fund to an IRA.  Please advise which box to check.  The financial planner will NOT work with me at all and is questioning my integrity even though they admitted that it was wrong.  I cannot find the exact perfect box for me to check.

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Many custodians stopped sending rollovers directly to other custodians, they now send it to the IRA owner and make them deposit it at the new custodian within 60 days. That's a tax free rollover and is entered on the 1099r entry page.

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So, there's nothing wrong with the 1099-R--the custodian has no idea if the taxpayer rolled it over or not.

1099-R Worksheet--enter the data (and code) that is present.

In ATX:

Box 2a, below "Taxable Amount" there is another line "Rollover amount included in 2a"--that's where you handle it.

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