January 24, 2021

Syndicated columnist Julie Jason quoted Principal Michael D’Addio about how to report non-taxable RMDs shown as taxable on Form 1099R.

Connecticut Post

By Julie Jason

Syndicated columnist Julie Jason quoted Principal Michael D’Addio about how to report non-taxable RMDs shown as taxable on Form 1099R. Financial Management

Excerpt:

It is not unusual for Form 1099-R to reflect amounts distributed as taxable that have been timely rolled over to a qualifying account, according to CPA Michael D’Addio of Marcum LLP’s New Haven, Connecticut, office. Marcum is a national accounting and advisory firm.

“So long as the amount was properly rolled over by the appropriate 60-day deadline (or by Aug. 31 for an early 2020 distribution), it is not taxable regardless of what is reported on Form 1099-R,” explained D’Addio.

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Michael  D'Addio

Michael D'Addio

Principal

  • Tax & Business
  • New Haven, CT