I received an incorrect 1099-R on an annuity that incorrectly indicated that I had an early distribution. The company has been notified and I am awaiting receipt of the corrected 1099-R (which will come after April 15th). Should I file for an extension, wait for the corrected 1099-R, then file, or should I go ahead and file now and submit an amended form when the corrected 1099-R is received?
After the 1099-R summary screen press [continue] and keep going until you get the then first screen in the screen shots below, Enter the taxable amount in the "other" box which is for over 59 1/2 years old to eliminate the penalty. A corrected 1099-R is not necessary. A 5329 form will be included with a code 12 on line 2 indicating age 591/2 penalty exception.
Enter a 1099-R here:
Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).
OR Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.
Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.
[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]
After the 1099-R summary screen press [continue] and keep going until you get the then first screen in the screen shots below, Enter the taxable amount in the "other" box which is for over 59 1/2 years old to eliminate the penalty. A corrected 1099-R is not necessary. A 5329 form will be included with a code 12 on line 2 indicating age 591/2 penalty exception.
Enter a 1099-R here:
Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).
OR Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.
Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.
[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]