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posted Jan 24, 2023 6:45:02 PM

I have 2 1099-R forms from the same company. They have different amounts in the gross distribution and federal income tax withheld. Would I enter both of them?

I have 2 1099-R forms from the same company. They have different amounts in the gross distribution and federal income tax withheld. Would I enter both of them?

0 4 10448
4 Replies
Expert Alumni
Jan 24, 2023 7:05:03 PM

If you had two different retirement accounts that you received distributions from, you could have two separate 1099-R's.

 

If they show different 'account numbers' that may be the case.

 

Contact the company to verify this if you're in doubt.

 

Here's How to Enter 1099-R

 

 

Level 15
Jan 24, 2023 7:06:02 PM

Yes, you must enter both of them, each one separately.

Level 15
Jan 24, 2023 7:10:38 PM

Or one could be a corrected 1099R.  Is the Corrected box at the top checked?

 

Or is the total of box 1 the amount you got during the year?  Is box 7 the same code or different?

 

But yes you normally enter both of them separately.  Ask them why you got 2 forms.  

Level 15
Jan 25, 2023 3:10:56 AM

If you are getting monthly retirement payments in the year you turn 59.5......you get 2 1099-R forms that year.

One with a code 2 in box 7

One with code 7 in box 7.

____________________________

1)  Even if not getting monthly payments, you could get two if you took two distributions during the year you turned 59.5.......there would be different box 7 codes for those too.

 

2) I guess there could be two also, if you took a corrective distribution for over-contribution to some retirement account last year, and then also took another distribution.  Those would be coded differently in box 7.