..... I rec'd 2 1099Rs, one with a code 8 and the other with a code P. Code P says it is for 2004 and code 8 is for 2005. Both 1099R are 2005 1099s.
From what I have read I may have to amend 2004 for the code P. Is this correct? (do not include on the 2005 return?) Is there any way to avoid the penalties?
This client has also rec'd another excess distribution on March 15, 2006 for the year 2005. a 1099 will be issued in 2006 to be carried back to 2005. Should I just include this income on line 21 while I'm doing his 2005 tax return.
Thank for your help.
Bob W
From what I have read I may have to amend 2004 for the code P. Is this correct? (do not include on the 2005 return?) Is there any way to avoid the penalties?
This client has also rec'd another excess distribution on March 15, 2006 for the year 2005. a 1099 will be issued in 2006 to be carried back to 2005. Should I just include this income on line 21 while I'm doing his 2005 tax return.
Thank for your help.
Bob W
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