Do I have to file my 1099r? Can I file them next year? I didn’t pay enough taxes and would like to file them next year

Forum|Forum|3 years ago
January 25, 2023
2 replies
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dmertz

Level 15

You must file your 2022 Forms 1099-R on your 2022 tax return. You are not permitted to file them instead in some future year. The US tax system is pay-as-you-go.

If you fail to include taxable income on your tax return, the IRS will send to a bill that likely includes late-payment penalties. If you are unable to pay the taxes, you can apply with the IRS for a payment plan.

JohnB5677

Level 15

Yes, you do have to file the 1099-R, and you have to file it for the year that you received the distribution.

Some distributions on the 1099-R aren’t taxable. Box 7 has distribution codes that determines how the distribution is treated on your tax return.

Code 1 means the distribution is subject to an additional 10% tax because the taxpayer is below 59 ½.
Code 7 is assigned to normal distributions. This type of distribution is taxable but not subject to the additional 10% tax if the taxpayer is under age 59 ½.
Code G designates a rollover between retirement accounts. This type of distribution is not taxable.

While Roth IRA distributions are generally not taxable, they may be subject to early withdrawal penalties if taken before age 59 ½.

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