It is a traditional IRA the 1099 R With box 1 $58000. and Normal Distribution code 1. He withdrew the $50,000. and took no withholding then one month later....
He "contributed"or put back the $50,000.00 (I had told him before to take out a loan for $50,000. with the IRA as collateral but he didn't )
I tried treating it as a contribution, but ended up with him still owing $3000.00 as taxes.
I would like to treat it as a rollover but don't know how to do that because it isn't in a separate IRA. I don't know the form to use or procedure to make this work. Again thanks for your help!