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shauni-morrison
New Member

I received 2 1099 R forms from the same investiment company for different amounts

Do I need to put down both on my tax returns?
7 Replies
SteamTrain
Level 15

I received 2 1099 R forms from the same investiment company for different amounts

Depends...if one was a corrected form...then only that one is needed.

But if the box 7 code numbers are different...then they are entered separately.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
SteamTrain
Level 15

I received 2 1099 R forms from the same investiment company for different amounts

And a few companies send out separate forms when you have different holdings in that account to distinguish which holdings the $$ came from (a somewhat unnecessary propogation of forms...opinion)
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
shauni-morrison
New Member

I received 2 1099 R forms from the same investiment company for different amounts

Box 7 codes are the same. One has the IRA box checked off next to box 7 and the other doesn't. One has the total distribution box checked off next to it and the other doesn't
shauni-morrison
New Member

I received 2 1099 R forms from the same investiment company for different amounts

Nether have the corrected box checked off
SteamTrain
Level 15

I received 2 1099 R forms from the same investiment company for different amounts

So...what did you do?

Roll a 401k into an ira....then take some money out...or convert some to roth?

There's a whole host of possibilities And at thi point wd can only guess.......if you don't know what you did, and cannot decrib what pension/401k/IRA moves you did last year.....then asking the people at the financial inst. Might be your first step.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
shauni-morrison
New Member

I received 2 1099 R forms from the same investiment company for different amounts

I rolled a 403b into a traditional IRA. I didn't take any money out. The difference of amounts is less than .50 cents. I called them and they said to report both. I put both into the tax form online but now it shows I have double the money, which I don't have.
SteamTrain
Level 15

I received 2 1099 R forms from the same investiment company for different amounts

The transferred $$ will show as double for two transactions

The 403b to IRA (ira/sep/simple box not checked) will show zero taxable income incom if the folollowup questions you answered indicated the rollover.

The second 1099-R with the ira/sep/simple box checked should not exist unless you took the money out or moved it into a roth ira.

Call them again and ask what that second 1099-R represents.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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