1099R is in mail, but won't arrive by tax day - workaround?

Forum|Forum|3 years ago
April 17, 2023
1 reply
33 views

By accident $168 was over-contributed to my 403b plan (switched jobs this year, apparently that can happen). Contacted the plan manager and they said they'd issue a form for the (presumably1099R), but it probably won't arrive by tax deadline.

Is there some way I can anticipate this and just file taxes once, or do I have to file again when I ultimately receive it? Thanks!

TurboTax Home & Biz Windows

DianeW777

Level 15

You will need to file once you receive the Form 1099-R.

If you need extra time and file an extension, it will waive failure-to-file penalties until October 18th. However, if you would have owed tax on April the 18th, the IRS will assess monthly late payment penalties and interest until you pay.

I recommend to extend your return with a TurboTax Extension and also pay your best guess of anything you may owe. If you overpay, it will be refunded. If you underpay, it will only calculate penalties on the part that was not paid. TurboTax has a tool called TaxCaster to give you an idea of your tax liability and/or refund.

You can vary different items and see how that could impact your return. Click for TaxCaster

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AminyAuthor

Level 5

Thank you @DianeW777 , TT indicates I'm due refunds for both state and federal.

My taxes are all ready to go via the downloaded TT on my computer. Is there a way to get the extension service you linked to operate with that?

BrittanyS

Level 12

Yes, you can file for an extension even though you use TurboTax Desktop. The link provided by Dana is the link to use to file for the extension. If you have never used TurboTax Online, you may have to create an online ID and password. Here is the link again for your reference:

TurboTax Extension

@Aminy

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