Can i correct the code on 1099 box 7?

lenelson · ‎June 6, 2019

it will not take code l1

Anita01 · ‎June 6, 2019

No, you cannot. If you have two codes like this, don't try to enter them together. You can enter two separate codes in the two spaces offered.

If you believe the code to be incorrect, you would need to ask the issuer for a corrected copy. The IRS receives copies of these forms and will be expecting your return to reflect what's on the form copy they receive. After you have entered the form, you'll be asked a series of questions that may result in changes in the taxable amount of the distribution.

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Kat · ‎June 6, 2019

Please clarify. Is the code in Box 7 the number 1?

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

Kat · ‎June 6, 2019

Did you take an early distribution from your retirement account?

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

Anita01 · ‎June 6, 2019

No, you cannot. If you have two codes like this, don't try to enter them together. You can enter two separate codes in the two spaces offered.

If you believe the code to be incorrect, you would need to ask the issuer for a corrected copy. The IRS receives copies of these forms and will be expecting your return to reflect what's on the form copy they receive. After you have entered the form, you'll be asked a series of questions that may result in changes in the taxable amount of the distribution.

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Can i correct the code on 1099 box 7?