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If box between #7 & #8 on 1099-R has IRS/SEP/SIMPLE printed there does that mean it is checked?
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October 3, 2019
10:59 PM
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Retirement tax questions
to note that the 1099 refers to an IRA look for a check mark or "X" in the box.
October 4, 2019
5:43 AM
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Retirement tax questions
"IRA/SEP/SIMPLE" is the name of that box.
If it's not clear whether or not that box is marked, ask the payer. That box should be marked only for distributions from traditional IRA accounts, including SEP-IRA and SIMPLE IRA accounts. For distributions from 401(k), 403(b), 457(b), federal TSP and non-qualified annuity accounts, that box should not be marked.
October 4, 2019
5:45 AM
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Retirement tax questions
The IRA/SEP/SIMPLE box has to be marked to be considered "checked". Usually with a X entered in the box
October 4, 2019
5:46 AM