Amanda44
Level 3
04-13-2024
04:36 PM
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First off, hope everyone is surviving tax season! Only a few more days, which is good and bad!
I need some assistance - I have a client that received a 1099-R coded J - Early Distribution from Roth IRA. When I enter the 1099-R like it was reported, it's showing the whole amount as taxable. Her contributions were about $69k - how do I show that? She's spoken with her financial advisor and they said the 1099-R is correct and that it's on me to show that the whole amount is not taxable. Some back story - she took the money out to buy out her now ex from her portion of the house they owned jointly. Any help would be greatly, greatly appreciated.
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