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New Member
posted Mar 2, 2024 3:36:39 PM

My 1099 R box 7 distribution code is blank. Funds are from a lawsuit payment. What code do I put in. System doesn't allow blank

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2 Replies
Expert Alumni
Mar 2, 2024 3:41:37 PM

Lawsuits are generally reported on Form 1099-MISC.   Contact the issuer and find out why the gave you a 1099-R.  

 

File Form 1099-R for each person to whom you have made a designated distribution or are treated as having made a distribution of $10 or more from:

 

  • Profit-sharing or retirement plans.
  • Any individual retirement arrangements (IRAs).
  • Annuities, pensions, insurance contracts, survivor income benefit plans.
  • Permanent and total disability payments under life insurance contracts.
  • Charitable gift annuities, etc.

Level 15
Mar 2, 2024 3:49:52 PM

1099R box 7 is commonly a Code 7.  You might think the 7 is for the box # but it could also be the Code.