Hello -
Thank you.
I received 2023 Form 1099-R. What do the below values mean? The only part you clarified was code 2 in box 7. What does everything else mean in layman's terms?
1. Gross distribution = $12,503.58
2a Taxable Amount = $12,503.58
2b Taxable amount not determined = (X)
Total distribution = (X)
7 Distribution code(s) = 2
IRA/SEP/SIMPLE = (X)
8 Other amount
Other amount percentage = %
9a Your percentage of total distribution = %
12 FATCA filing requirement = ( )
16 State distribution = $12.503.58
Thank you.
