Crank Posted March 17, 2010 Report Share Posted March 17, 2010 I have a 1099R with an incorrect distribution code. A code "T - Roth IRA distribution, exception applies" was used. The client claims that it wasn't a Roth IRA but that is was a traditional IRA. Documentation supports this also. Client is 62 years old. Does the bank need to issue a corrected 1099R? Quote Link to comment Share on other sites More sharing options...
LindaB Posted March 18, 2010 Report Share Posted March 18, 2010 You should try to get a corrected 1099R if this is not really a Roth IRA. If you try to enter it the way it is, you will need to use form 8606, part 3 for Roth distributions, and the return won't be right. Quote Link to comment Share on other sites More sharing options...
Crank Posted March 18, 2010 Author Report Share Posted March 18, 2010 Thanks Linda Quote Link to comment Share on other sites More sharing options...
Bart Posted March 19, 2010 Report Share Posted March 19, 2010 You should try to get a corrected 1099R if this is not really a Roth IRA. If you try to enter it the way it is, you will need to use form 8606, part 3 for Roth distributions, and the return won't be right. It is hard to make a return be right when the source documents are not right. I have always heard that two wrongs don't make a right. Perhaps, in this case, if you make the return right by forcing it to be right by doing something wrong, you have made a right out of two wrongs. Quote Link to comment Share on other sites More sharing options...
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