☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Feb 10, 2024 10:05:41 AM

Transferred from a non qualified annuity to a certificate of deposit. 1099-R shows $0 in Box 2a and Distribution Code 6 which is like exchange.

I believe there should be a taxable amount in Box 2a and D in the Distribution Box as this was transferred from a non qualified annuity to a certificate of deposit and not a like exchange.  Is that correct and do I need to request a corrected 1099-R or can I just put the correct information on my tax return?

0 2 522
2 Replies
Expert Alumni
Feb 16, 2024 6:34:42 PM

It is best to request a corrected 1099-R.  However, if you do not receive one please enter the information as it should be.  

There is a chance the IRS will request additional information from you, though it's not likely since you'll be reporting more income than what the annuity company has reported to the IRS with their filing.  

 

Level 15
Feb 17, 2024 5:57:12 AM

You must obtain a corrected Form 1099-R.  If the annuity company refuses, you must submit a substitute From 1099-R (Form 4852) to explain why the Form 1099-R issued by the annuity company is wrong.