Hi I received a corrected 1099R for my mothers taxes after i already filed..the only change was to box 7. The original 1099R had box 7 as code 7......the corrected form changed it to code 4 (death- my father had passed). When I made the change to the turbotax federal return, the amount owed was constant (no change)...do i still need to amend? Also would this affect PA state taxes in anyway?
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I would not file an amended return. I would to see if the IRS takes any action, which I doubt they will since it does not change the amount of tax. For Pennsylvania, if the distribution was considered taxable income for PA due to reporting with code 7 (if you were under age 59 1/2 it would be) it would not be taxable with code 4. For more information, see the following from the PA Institute of Certified Public Accountants Taxes on Retirement Income: Pa. Treatment of 1099-R Distributions
In your case, the two codes gave ths same result on your tax return. That's all that matters.
the corrected 1099-R can be ignored.
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