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Retirement tax questions
Most financial institutions only list the total distribution in box 1 and 2a. A couple of financial institutions assign different account number to each fund that they hold so when a distribution is made they list each fund on a different line in box 1 and 2a. As long as the box 7 code is the same you can just add up all the box 1 and 2a amounts and only enter the totals. Only the totals will get sent to the IRS anyway since only the total will go on the 1040 line 4.
**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.**
‎February 23, 2020
1:07 PM