Cheryl B. asked
I closed 2 IRAs in 2015. The first was no problem and was accepted by my broker. The second IRA check was refused, and I was told to cash it and take out the RMD for the now one IRA. I received a 1099-R form that combines both IRAs into one amount, with a distribution code of 7. The taxable amount is the total of the transferred IRA and the cashed IRA. How do I report this, and do I have an RMD for the IRA I cashed out?
August 23rd, 2023
Stephen L. answered
When reporting the closure of your IRAs, you should use Form 1040, line 15a for the total distributi...
August 23rd, 2023
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