Reply To: 1099-R Form

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#2479
kaneohe
Participant

Your post reminded me why I don’t have my IRA RMDs on auto though I would like to. Some companies seem to take other withdrawals into account and some don’t in pulling the RMDs.

I think you’re probably fine. I know that companies,for some reason, don’t code the QCD as non-taxable so that is normal. Note that box 2b
on your 1099R is ? marked “taxable amount not determined”…..if it’s not it should be since they don’t know what the correct amount is.

So you let the IRS know the correct taxable amount and notate the tax return with “Rollover” and “QCD” so IRS knows why.
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf see instructions for line 4 on p. 29 exceptions 1 and 3. You should be careful in future years since you can only do 1 rollover every 12mos/365 days….it is not once a year…….so you might be a few days early in some future yr and violate the rule.