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Rollever IRA

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Level 3

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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Level 12

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.

 

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Highlighted
Level 12

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.

 

View solution in original post