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1099-R

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Level 1

My client received a 1099-R from a bank that held his IRA. He physically took the money out and brought it to another financial institution as a rollover IRA. The first bank issued a 1099-R with distribution code 1 and a fully taxable amount. Clearly that bank didn't know he rolled it over but they're not planning on revising the 1099. Should I report it as non-taxable (as if it was code G) and just respond to the notice when it comes?

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2 Replies 2
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Level 15

there are input fields for indirect rollovers.


ex-AllStar