Yardley CPA Posted April 10, 2016 Report Posted April 10, 2016 I have a client with a 1099=R Code G Direct Rollover. The form reflects a Gross Distribution of 1545 and a Taxable Amount of 1545. Based on the coding of G, nothing should be taxable but the way the 1099-R was issued, the taxable amount populates line 16b. I'm thinking of not including any taxable amount? Its a bit late to go back and seek a corrected 1099. Thoughts please? Quote
Lynn EA USTCP in Louisiana Posted April 10, 2016 Report Posted April 10, 2016 In ATX, form 1099-R see if there's a line just under line 2a that says 'rollover amount included in 2a'. After verifying with the client that the monies were indeed rolled over, inputting the rolled over amount on that line makes it nontaxable. 3 Quote
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