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Lprong
New Member

2a taxable amount is wrong on 1099R, company is in rehab and will not response to any emails or calls to get a correction.

I want to post the correct amount on my income tax because if I post their amount, I will be subject to fines for underestimate my taxes.  I have proof of the amount by going into my bank entries and copies the interest from the company.  I do not want to pay extra income tax if I don't have to.  It will also cause problems with the state

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2 Replies

2a taxable amount is wrong on 1099R, company is in rehab and will not response to any emails or calls to get a correction.

Can you figure out the difference?  Did they take federal and state taxes out of the payments?  The taxable amount includes the tax withholding.  Is box 1 right?  Is box 2a the same as box 1?  What code is in box 7?  

It could be right if you had a loan that wasn't paid pack. 

Lprong
New Member

2a taxable amount is wrong on 1099R, company is in rehab and will not response to any emails or calls to get a correction.

after doing alot of calculations, they offered 25% cash value which they didn't tell me that first they will give me all the interest and it doesn't equal 25%, the balance will be the principal amount.  After calculating the base amount + interest - interest payments - principal payment it equals the balance on the account.  I wish they would of told me.

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