Solved: Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.
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Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

 
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Level 15

Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

Yeah..that's an issue, and an IRS limit.

Some brokers issue a 1099-R for every holding in your account, even if it's the same IRA or 401k account  (mine doesn't thankfully).

So...here's what you have to do........that might work

________________________________

You can (manually) combine 1099-R forms to chop the number down below 20 ....but ONLY IF: 

1) IF from the same broker & EIN....and for the same person

2)  IF the box 7 code is exactly the same on each of those combined

3) And a critical condition..... IF no tax withholding was done for the 1099-R forms being combined.

(added later)  #4)   the IRA/SEP/SIMPLE checkbox needs to be the same too

Otherwise, you will have to print out your tax return and file by mail.  (you can still combine the 1099-R's with withholding, but you will have to file by mail, and send the IRS copies of every tax form with withholding on it.

______________________

Next year.....see if you can remove $$ from only select funds, so that only a few re affected....of move some funds into the IRS's or 401k's cash holding inside that retirement account, and take only out of the cash holding every year.  Talk to your Broker/fund administrator to see how to arrange to do that.

View solution in original post

4 Replies
Level 15

Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

Yeah..that's an issue, and an IRS limit.

Some brokers issue a 1099-R for every holding in your account, even if it's the same IRA or 401k account  (mine doesn't thankfully).

So...here's what you have to do........that might work

________________________________

You can (manually) combine 1099-R forms to chop the number down below 20 ....but ONLY IF: 

1) IF from the same broker & EIN....and for the same person

2)  IF the box 7 code is exactly the same on each of those combined

3) And a critical condition..... IF no tax withholding was done for the 1099-R forms being combined.

(added later)  #4)   the IRA/SEP/SIMPLE checkbox needs to be the same too

Otherwise, you will have to print out your tax return and file by mail.  (you can still combine the 1099-R's with withholding, but you will have to file by mail, and send the IRS copies of every tax form with withholding on it.

______________________

Next year.....see if you can remove $$ from only select funds, so that only a few re affected....of move some funds into the IRS's or 401k's cash holding inside that retirement account, and take only out of the cash holding every year.  Talk to your Broker/fund administrator to see how to arrange to do that.

View solution in original post

Level 15

Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

I agree with everything but #3 ... withholding is not critical for efiling.  When you efile the IRS only looks at the issuer's EIN  and not the withholding amount.  So #1 is critical ... all the combined forms must have the same EIN & for the same person.
Level 15

Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

I'm an agnostic on that....we do have another person here that insists the withholding ones cannot be combined.  You could always combine them...and e-file..and IF the IRS comes back next year and questions you, you send them copies of the 1099-R forms as proof.

We can't know everything about why the person has so many 1099-R forms, so requirement #2 is necessary, since they could have some unusual box 7 codes mixed in that need to be handled separately

And I'm adding  a #4)   the IRA/SEP/SIMPLE checkbox needs to be the same too
Level 15

Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

And yeah that EIN detail needs to be confirmed and limited too. anything else?
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