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2008 corrective Distributions


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Guest Butterfly
Posted

I am confused: New rules for 2008 returns say that they are taxed in year distributed.

2008 1099R instructions p. 5 talk about excess aggregate (for example) contributions say taxed when contribution is made.

Page 4 of the 1099R 2008 instructions say corrective distributions are taxed in year made.

What am I missing? HELP!! :unsure:

Thanks!

Posted

The 2008 ADP test failures we have now will receive a 2009 1099R. I suspect we may have to wait for the 2009 1099R instructions to get this information (confirmation of the new rules)?

Guest Butterfly
Posted
The 2008 ADP test failures we have now will receive a 2009 1099R. I suspect we may have to wait for the 2009 1099R instructions to get this information (confirmation of the new rules)?

Thanks for your reply. That does make sense.

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