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Retirement tax questions
If the Form 1099-R has indeed been issued to you and for some inexplicable reason the payer will not make the correction, you can report the Form 1099-R as is and claim an Other reason exception to the early distribution penalty on the taxable amount of this distribution.
Code 1 is never permitted to be used to report a distribution from a Roth IRA. A Form 1099-R issued to an individual who is age 78 and the payer does not know if the individual has had a Roth IRA for 5 years, the payer must use code T.
‎February 2, 2021
5:42 PM
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