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thomasmajchrowsk
New Member

If a 1099 has block 1 and 2a values with tax amount not determined and a distribution code 7 IRA/SEP/Simple should I have a tax to pay?

Just wondering if line 15b of my 1040- shoulkd be a 0?

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Accepted Solutions
DexterS
New Member

If a 1099 has block 1 and 2a values with tax amount not determined and a distribution code 7 IRA/SEP/Simple should I have a tax to pay?

Yes, if on Form 1099-R there is a value in Box 1, and Box 2a then you should have the same amount in Box 15b, of Form 1040 as you see in Box 2a, unless you have more than one 1099-R.

If you rolled some or all of the distribution over that would also change the value in box 15b.

Try unchecking Box 2b, Taxable amount not determined.

If that doesn't help, look at the screen "What did You Do With The Money From This Payer".  If you indicated that you moved the money to another retirement account, that's a rollover.

If that's what you did, that's fine.  If you didn't roll it over then you have to select that you "did something else with it".

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1 Reply
DexterS
New Member

If a 1099 has block 1 and 2a values with tax amount not determined and a distribution code 7 IRA/SEP/Simple should I have a tax to pay?

Yes, if on Form 1099-R there is a value in Box 1, and Box 2a then you should have the same amount in Box 15b, of Form 1040 as you see in Box 2a, unless you have more than one 1099-R.

If you rolled some or all of the distribution over that would also change the value in box 15b.

Try unchecking Box 2b, Taxable amount not determined.

If that doesn't help, look at the screen "What did You Do With The Money From This Payer".  If you indicated that you moved the money to another retirement account, that's a rollover.

If that's what you did, that's fine.  If you didn't roll it over then you have to select that you "did something else with it".

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