I received a 1099-R with $0.00 in Box 1. Distribution code in Box 7 is 7B. TurboTax insists the value must be greater. What do I do here? Do I just remove this 1099-R?

[MindyB · Accepted solution]

Yes, remove the 1099-R.  Since the distribution was $0, there is nothing to report on your tax return.  You should still keep the 1099-R with your records.

[DoninGA]

If there is not amount entered in box 1 of the Form 1099-R then the form does not have to be entered on a tax return.

[momin]

Thank you!

[momin]

Thank you!

[BillM223]

It's not likely, but if there is an entry in boxes 4 or 14, come back and tell us, because this amount (if any) should be reported on your return.

[momin]

Both 4 and 14 have $0.00 as well. Box 5 is the only box with non zero value.

[BillM223]

You may need to contact the administrator who sent you the 1099-R.

One purpose of box 5 is to report distributions for dollars for insurance premiums paid by the plan administrator (in which case, there should be an entry on box 1), so a corrected 1099-R may be in order.

Or if box 5 has "employee contributions", then this number was probably auto-printed on every 1099-R, even if there were no distributions, in which case, as the others said, if this is what the plan administrator intended, you can just dispose of the 1099-R.

I am just concerned that this might be a 1099-R that was printed in error, so a call to the plan administrator would make you feel better about trashing that document.