jhbvtacpa
Level 5
04-03-2024
01:40 PM
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Client took a total distribution for $42k, with both Box 1 gross distribution and Box 2a taxable amount on the Form 1099-R, showing the full amount.
The client then went and reinvested $20k within 60 days into a different traditional IRA. How do I account for this direct rollover and avoid being taxed on the full amount?
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