dmertz
Level 15

Deductions & credits

@pk, the correct amount in box 2a is $40,000, not $20,000.  A code-7 Form 1099-R with the IRA/SEP/SIMPLE box must always have box 2a equal to box 1 and box 2b Taxable amount not determined marked.  The actual taxable amount is established in the tax return, not on the Form 1099-R.