You'll need to sign in or create an account to connect with an expert.
Yes. And if box 2a is blank then it might be taxable.
The IRS gets a copy of the 1099-R and expects to see it on your tax return or they can tax all of the box 1 amount and send you a bill.
Yes. And if box 2a is blank then it might be taxable.
The IRS gets a copy of the 1099-R and expects to see it on your tax return or they can tax all of the box 1 amount and send you a bill.
many trustees leave 2a blank because they don't know how much, if any, is taxable. for example if it was from a traditional IRA and you made non-deductible IRA contributions to any traditional account you would have basis which would reduce the taxable amount of the distribution. the trustee doesn't know that. also in cases of 401k's rolled over to IRA's
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
mtaylor4242
Returning Member
twomackes
New Member
EveretteJordan
New Member
Mrskathy1962
New Member
cenakay
Level 1