monicac
Level 4
10-14-2020
04:51 PM
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I have a client that took money out of their IRA to rollover to another financial institution however the company would not do it for them, cut them a check and gave then a 1099 showing distribution code 1 (early distribution) What do I do to avoid the 10% penalty?
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TaxGuyBill
Level 15
10-14-2020
05:14 PM
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DID the client rollover the amount within 60 days? If so, scroll about 1/2 down on the 1099-R worksheet and there are some lines to enter Rollover information.
