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Retirement tax questions
Yes. For NYS you need to include the box 1 amount in box 16 to clear the error. The If you inputted a 1099R for NYS with only box 14, go back and edit the 1099R to include amount in box 16. If you are in Desktop, go into "Forms" mode and review the 1099R. While in your return in Desktop:
- In the upper right hand corner Select "Forms"
- Now in the left hand column of the screen, select the 1099R form you are working on
- Review your input then scroll down to the State section and complete boxes 14-16.
While in Forms Mode review the forms listing for red !. You will need to correct these in order to efile.
The 1099 Series are informational reporting forms submitted to the IRS by third parties. The IRS then matches the form information to your tax return to insure all income is reported and taxed. If you do not include a 1099 received from a third party on your tax return, you will receive a notice from the IRS asking why. This is the CP2000 matching notice. If you receive this notice from the IRS, make sure and respond by the date indicate on the notice.