Taxpayer received two 1099Rs from an IRA for distributions taken in 2020 - $7500 & $22,000. The 1099R for the $22,000 was not reported on his return.
He used the $7500 as a down payment for their first home thereby avoiding the 10% penalty.
Two days ago, he faxed me a copy of the 1099R for the $22,000 and asked if he can put it back in the IRA.
Can the tax return be amended to allow him to complete this transaction?
Thanks
Brian
He used the $7500 as a down payment for their first home thereby avoiding the 10% penalty.
Two days ago, he faxed me a copy of the 1099R for the $22,000 and asked if he can put it back in the IRA.
Can the tax return be amended to allow him to complete this transaction?
Thanks
Brian
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