Hello,
My wife and I filed a joint return for 2023 tax year that was excepted this February.
We both included information in form 1099-R for distributions from Traditional IRA (Roth conversion)
in are return.
Filed 1099-R shows....
Box 1 17,000
Box 2a 17,000
Box 2b unchecked
Today we received corrected 1099-R that shows....
Box 1 17,000
Box 2a C
Box2b X C
All other info. is the same.
To amend or not to amend that is the question.
Thanks to all!
Neither of these Forms is entirely correct if the distribution was from a traditional IRA.
What is the code in box 7 of these Forms 1099-R?
Is the IRA/SEP/SIMPLE box marked?
If the code in box 7 is 1, 2 or 7 and the IRA/SEP/SIMPLE box is marked, box 2a must be the same as box 1 and box 2b Taxable amount not determined must be marked.
You may not have to file an amended return, but I have a few questions.
Did you ever make any non-deductible contributions to your IRA?
Was this a rollover, or a re-characterization?
If you answered no to both of these questions, and Box 7 was a code 7, you do not have to file an amended tax return.
If you look at the tax return you already filed, I expect the line 4a is the same as 4b, and only the conditions above will change that.
Hello,
Corrected 1099-R shows
Yes Box 7 is marked as code 7
IRA/SEP/SIMPLE is marked X
Box 2a is marked C in bold where 7363.85 was shown on original.
Box 2b Taxable amount not determined is marked X
Thanks.
Hi,
Have never made non- deductible contributions to either IRA.
No rollover or re-characterization. Distributions were all a Roth conversion for each of us.
Box 7 was a code 7
line 4a is the same as 4b on 1040-SR
Thank you
As long as the box 1 amount has been included on Form 1040 line 4b, there is no need to amend your tax return.