topic Can I pick 'normal distribution' for Box 7 on 1099-R for qualified annuity payment even though Company issuing it did not include and says it is not needed? in Retirement tax questions

Can I pick 'normal distribution' for Box 7 on 1099-R for qualified annuity payment even though Company issuing it did not include and says it is not needed?

eaoverton — Sat, 11 Apr 2020 18:03:21 GMT

TT will not proceed without making a choice for Box 7.

Re: Can I pick 'normal distribution' for Box 7 on 1099-R for qualified annuity payment even thoug...

ColeenD3 — Sat, 11 Apr 2020 18:19:50 GMT

You have no code in Box 7? You absolutely need one. You can't automatically choose a code, it needs to be issued on the actual form. The code governs how it is treated for tax purposes.

@eaoverton

Re: Can I pick 'normal distribution' for Box 7 on 1099-R for qualified annuity payment even thoug...

dmertz — Sat, 11 Apr 2020 18:54:18 GMT

If the form is not printed on the standard IRS form. it's often the case that the code in box 7 is 7 and is present, but the code 7 is being mistaken for the box number.

Re: Can I pick 'normal distribution' for Box 7 on 1099-R for qualified annuity payment even thoug...

eaoverton — Sat, 11 Apr 2020 20:31:45 GMT

Thank you so much for responding. No, there is no code in Box 7 issued by the company. I spoke with them yesterday and they said there was no need to issue a corrected 1099-R. It sounds as though I should go back and request them to reissue the 1099?

Re: Can I pick 'normal distribution' for Box 7 on 1099-R for qualified annuity payment even thoug...

eaoverton — Sat, 11 Apr 2020 20:33:24 GMT

Ahhh...that's it! It doesn't look like it but it is a '7'. Thank you so much!!!!!