Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jt-m-2
New Member

I received a 1099-R form for a rollover only after I had finished my taxes. I added it to amend and there are no changes for owe or refund. Do I have to really amend it?

 
1 Best answer

Accepted Solutions
MinhT
Expert Alumni

I received a 1099-R form for a rollover only after I had finished my taxes. I added it to amend and there are no changes for owe or refund. Do I have to really amend it?

If your form 1099-R is for a direct rollover (code G in box 7), there is no real need to amend your return. The rollover is not taxable.

The IRS has a copy of your form 1099-R but will know from the code in box 7 that it is a non-taxable rollover. Just keep that form 1099-R in your tax records for at least 3 years.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
MinhT
Expert Alumni

I received a 1099-R form for a rollover only after I had finished my taxes. I added it to amend and there are no changes for owe or refund. Do I have to really amend it?

If your form 1099-R is for a direct rollover (code G in box 7), there is no real need to amend your return. The rollover is not taxable.

The IRS has a copy of your form 1099-R but will know from the code in box 7 that it is a non-taxable rollover. Just keep that form 1099-R in your tax records for at least 3 years.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Dynamic AdsDynamic Ads
Privacy Settings
v