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Level 1
June 6, 2019
Solved

Are incomes earned through investments and reported to the IRS as 1099-R earnings subject to federal taxes?

  • June 6, 2019
  • 1 reply
  • 4 views
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    Best answer by SherylSTaxExpert

    It depends on the code listed on your 1099R. If it is a rollover, then no, it would not be taxable. 

    Also, what does box 2a show? If there is an amount in there other than "0" it would be taxable.

    Below is a link to distribution codes that are used for 1099R reporting.

    https://ttlc.intuit.com/replies/4194736

    1 reply

    Level 6
    June 6, 2019

    It depends on the code listed on your 1099R. If it is a rollover, then no, it would not be taxable. 

    Also, what does box 2a show? If there is an amount in there other than "0" it would be taxable.

    Below is a link to distribution codes that are used for 1099R reporting.

    https://ttlc.intuit.com/replies/4194736