Client received a 199R after filing. Box 7 is marked G, indicating a direct rollover to a qualified IRA. Makes no difference on the calculated return, but I wonder if I should file an amendment anyway, just to keep the record clean. Thoughts?
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I would not worry about it. In case a CP notice is received by taxpayer, respond with a copy of the 1099-R marked G and that should hopefully take care of the issue.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
It's your call.
The IRS is notorious for issuing deficiency notices. My guess is they check gross income and can be a bit careless when full / partial rollovers occur and the taxable amount differs.
I've had clients with correctly efiled Form 1040, where the gross / taxable amounts were properly shown, along with the appropriate rollover code entered from the Form 1099-R, and they STILL received a notice.
Had your client merely waited a couple more weeks to file. .. this "problem" would likely be moot.Comment
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