Quote:
Originally Posted by RunningBum
I would just call Vanguard and ask. You haven't even told us exactly what kind of account this is, and with vague dates such as "early" and "late" in the month, talk of dividend which really isn't the same as a distribution, I wouldn't hazard a guess.
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The account in question is a rollover IRA. I've had the account for years and years. My bday is Dec 1 and the dividend paid out on or around June 20.
I called VG and I was on hold for around 30 minutes while they researched the issue. I was finally passed off to a 'Resolution Specialist'. He confirmed their system didn't recognize my age was 59.5 at the time the dividend paid out and it needs to be corrected. They are making the change to the 1099-R in their system and it will be available in 4-5 business days. I asked if the IRS will receive a corrected form as well and obviously he said they would.
I sure am glad I caught this before I submitted my tax return. And it sure is very disconcerting to see such a basic age calculation get screwed up in a huge megacorp's system such as Vanguard.