asked

I took multiple distributions from my IRA in 2017 totaling $163,000. Distributions from five accounts totaling $70,000 were taken out on 6-26-17 and returned in full ($70,000) on 8-23-17, per the 60-day rule. My tax person advises that the distribution was not coded correctly on the 1099. How do I demonstrate to the IRS that $70,000 is not taxable since it was returned within the 60-day period, especially since this amount is mixed in with the other distributions?

March 9th, 2023

Sign Up to View Answers

Create an account to view answers and interact with the community!