DianeW777
Expert Alumni

Retirement tax questions

Yes, it sounds like you are correct that it's a 1099-R. All the various copies means you use only one for your tax return. Use only Copy B for your tax return.

 

  1. Row 1: The gross distribution is box 1, while the taxable amount is listed in box 2a.  Your distribution code 4 (should be in box 7) means it was issued due to death of the original owner and it was an IRA. This sounds like a Traditional IRA and part or all of the contributions are taxable.  Use the Box 2a amount if the number is there.
  2. Row 2: The second row is a different IRA and the code T means it's a Roth IRA and that there is an exception to the penalty. This means the amount is not taxable because the owner paid tax on the contributions when placed into the Roth IRA. You should not have to put anything in box 2a, however be sure to enter your federal withholding.

Please update if you have additional questions and we will help.

 

@reed_james 

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