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Question 11 on my 1099-r is asking for year of designated Roth contribution and my form does not have a year on it. Also asking if FATCA filing requirement box is checked

 
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3 Replies
KenH1
New Member

Question 11 on my 1099-r is asking for year of designated Roth contribution and my form does not have a year on it. Also asking if FATCA filing requirement box is checked

If the account was not a Roth, just skip box 11.  It will not matter.

If it was a Roth, enter the year that the account was first opened.  This will only matter if you withdrew the earnings (or the entire account) and you are over 59.5.  

In other words, for Roth accounts, the entire withdrawal will be tax-free if you were over 59.5 and the account was opened at least 5 years ago.  None of this matters for traditional IRAs.

You should see a FACTA checkbox next to box 11.  If not, select that it was not checked.


      dgbishop
      New Member

      Question 11 on my 1099-r is asking for year of designated Roth contribution and my form does not have a year on it. Also asking if FATCA filing requirement box is checked

      Filling out the form for income taxes it asks for the 1st year of designated Roth contribution. I have an IRA not a Roth.  What do I put in there?

      Question 11 on my 1099-r is asking for year of designated Roth contribution and my form does not have a year on it. Also asking if FATCA filing requirement box is checked


      @dgbishop wrote:

      Filling out the form for income taxes it asks for the 1st year of designated Roth contribution. I have an IRA not a Roth.  What do I put in there?


      Nothing - leave it blank.

      **Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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