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yeubanks
New Member

I have a 1099-R and box 7 has a 2. There is nothing in IRA/SEP/SIMPLE box. It asked what did I do with the $ from Retirement System and neither question applies. ????

I did not move my retirement funds.  I received a check every money and that is what I live on.
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macuser_22
Level 15

I have a 1099-R and box 7 has a 2. There is nothing in IRA/SEP/SIMPLE box. It asked what did I do with the $ from Retirement System and neither question applies. ????

Then you say that you did something else with the money - took it in cash.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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3 Replies
macuser_22
Level 15

I have a 1099-R and box 7 has a 2. There is nothing in IRA/SEP/SIMPLE box. It asked what did I do with the $ from Retirement System and neither question applies. ????

Then you say that you did something else with the money - took it in cash.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

yeubanks
New Member

I have a 1099-R and box 7 has a 2. There is nothing in IRA/SEP/SIMPLE box. It asked what did I do with the $ from Retirement System and neither question applies. ????

If this is the answer then they need to word the response so that it does not sounds like we are moving funds around (against the law).  I have spoken to numerous people that use the program and I am the only person that this came up on.  The retirement system actually does Direct Deposit (LOL) and not one of them had an answer.
macuser_22
Level 15

I have a 1099-R and box 7 has a 2. There is nothing in IRA/SEP/SIMPLE box. It asked what did I do with the $ from Retirement System and neither question applies. ????

The question is poorly worded and we have requested a change for next year but who knows if they will or not.

There are only two possibilities of what you can do with a distribution 1) Move it (roll it over to another retirement account) which is not permitted if you receive a monthly pension BTW, or 2) you *didn't* roll it over (did something else) i.e anything else with the money other than rolling it over.

It would be simpler to just ask "Did you roll (move) the distribution to any other tax deferred retirement account or return it to the same account? [yes/no].
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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