I took out money from a retirement account in October 2023, and the retirement company initially sent me a 1099-R form with the incorrect state. I had lived in Michigan until April, but moved to Colorado since then and was in Colorado when I took the money out.
I asked them to correct the form to indicate Colorado instead of Michigan, and at first all they changed on the initial 1099-R form was Box 15 (State/Payer’s State No), from MI to CO, without changing anything else.
I called the retirement company about this, since when they send the 1099-R form to us, they also send the money from Box 14 to the state (in my case, the money was sent to Michigan, NOT Colorado), and the edited form would be incorrect and if I submitted the form info as it was, Colorado would wonder where their money is. (I think)
Then the retirement company created a new, CORRECTED 1099-R form, but the only thing on it is that the “CORRECTED” box is checked, and only Box 1, 7, and 15 are filled out.
Box 1 is showing the Gross Distribution as ZERO ($0.00)
Box 15 is showing MICHIGAN.
First question is - is what the retirement company did on this “corrected” form, CORRECT?
Additionally, I saw a post with someone who received a corrected 1099-MISC (which I know is different from a 1099-R), where the gross amount was also zero, and the answer/solution given was to just upload the info on the CORRECTED form.
Would this be the same with the “corrected” 1099-R that I received? Even if it only has 3 boxes filled out?
I tried to enter in the info JUST for the CORRECTED 1099-R form, with 3 boxes filled, and the system didn’t seem to understand what was going on, and the amount that I owe that shows up on top of the screen didn’t change.
Usually we pay the amount we owe (Federal and State) when we file the tax return. So, if just entering the CORRECTED form doesn’t change the numbers at the top to what I really owe, I’m also concerned that if I DON’T enter in the information for the FIRST form that has Box 1, 2a, 4 etc filled out, along with the CORRECTED form, I’d owe more money to Federal/State much later in the year and I’d rather just pay it when I file the tax return.
