Technically yes. But if the custodian reports the distribution on a single 1099R, Box 7 will probably not show Code 1 (early dist). The custodian should really issue one 1099R to report the amount converted (Code 2) and another to report the withholding (Code 1).
Permalink Submitted by [email protected] on Wed, 2018-03-21 18:53
Technically yes. But if the custodian reports the distribution on a single 1099R, Box 7 will probably not show Code 1 (early dist). The custodian should really issue one 1099R to report the amount converted (Code 2) and another to report the withholding (Code 1).