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Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

 
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IreneS
Intuit Alumni

Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

Yes.  The IRS matches up the 1099-Rs they receive to the tax returns the information is supposed to appear on.  Even though there is no taxable amount, there are figures that the IRS wants to see.

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5 Replies

Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

Yes.  What code is in box 7?

Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

Looks like there is a "G" in box 7.

Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

I actually have 2 of these 1099-R's     One was a rollover from one rollover IRA to another (switched from one financial institution to another).   The other was a contribution from my company to my rollover IRA pension plan.   In both cases the money remains in a tax advantaged account (i.e. was not taken out).   The code in box 7 in a "G" in both cases.
IreneS
Intuit Alumni

Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

Yes, you still need to enter the information.  There, of course, will be no impact on your taxes because of the rollover (code G).  The IRS still wants to see the 1099-R entered.
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IreneS
Intuit Alumni

Do I have to enter a 1099-R form on my return if there is no taxable income on it? The gross distribution box has a large amount in it ... but taxable amount box is 0.

Yes.  The IRS matches up the 1099-Rs they receive to the tax returns the information is supposed to appear on.  Even though there is no taxable amount, there are figures that the IRS wants to see.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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