Tuesday, August 9, 2011

I rolled over an IRA within a week after taking it out of One Bank, and placed those funds in another bank?

When I use the online software to report this IRA distribution on my taxes, the 1099 is showing it as a total distribution, as the check was made payable to myself! It was my understanding that if funds were rolled over within 60 days there was no liability? How do I show this distribution using the Online software program that I have chosen to use? As it presently stands, this distribution indicates that I had additional income in 2009, which would be taxable..

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