Can Fidelity issue a Corrected 1099-R due to the incorrect 1099-R they sent to the IRS? Our AGI will go up & SS down. What to do? Fidelity does not answer their phones?

Forum|Forum|5 years ago
February 7, 2021
1 reply
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What should we do? Fidelity does not answer their phones.

macuser_22

Employee

Exactly what is wrong with it?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

dmertz

Employee

In almost all cases were one believes that a Form 1099-R is incorrect, particularly ones from a large financial institution, the form is correct and getting correct tax treatment is a matter of entering it appropriately into TurboTax. Please explain the circumstances.

Trabia78Author

Fidelity Investments refuses to issue a Corrected 1099-R. In Box 7, they put the number 7 which means that we took out a distribution. They also paid the taxes. That was wrong. They should have entered the letter "G" which means that we rolled the money over to an IRA. I don't know what to do. Can you help? Thank you. Donna