@ahmadka2 wrote:
Thanks @DanaB27 & @macuser_22
I have a few more questions.
1) So if I proactively report the 1099-R that I would get NEXT year now, I assume this will add the IRS form 5329 which calculates the taxes on Roth IRA earning withdrawals ?
2) What if I don't know the exact details of the brokerage's address and TIN which would be mentioned on the 1099-R next year ? I can put in the values their customer service gives me, but they may turn out to be slightly different from what the 1099-R mentions next year. Assuming they roughly match, would it be okay if they're slightly different ? Or can this also require me to file an amendment next year ?
3) What about all the other boxes besides box 1, 2a and 7 ? Do I leave them all blank ?
1 Yes.
2 & 3 You get all of that from the financial in institution so you *know* exactly what they will put in these boxes. Otherwise just wait for the real 1099-R to arrive.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
