topic Re: 1099R in Retirement tax questions

1099R

Businext — Mon, 13 Jan 2025 20:37:02 GMT

Hello all,

I received a 1099-R from a company that I worked with last year but I'm not sure why the company is giving me a 1099-R instead of a 1099NEC. I have no pension plan because I'm not employee with the company. I'm an independent contractor (I should be classified as a employee, but that about topic) and I only worked a few days so I earned under $600. What could be reason for company sending this form? Should I contact payroll to see if they made a mistake?

Re: 1099R

xmasbaby0 — Mon, 13 Jan 2025 20:39:40 GMT

Yes----contact them to ask why they sent you a 1099R.

Re: 1099R

VolvoGirl — Mon, 13 Jan 2025 20:40:45 GMT

Yes ask them. Did you have a 401K plan with them? You need to get a 1099NEC. You need to get that fixed. What code is in box 7? Is the amount for what they paid you?

Oh, by the way you don't need to enter a 1099NEC even if you got one. You can enter all your independent contractor income on schedule C as Cash or General income. You should be keeping your own records.

Re: 1099R

dmertz — Mon, 13 Jan 2025 21:03:18 GMT

Having been paid less that $600 by this company, there is no requirement for them to issue a Form 1099-NEC. However, you must still report the amount as part of your gross receipts on Schedule C.

I agree that it is odd that they would send you a Form 1099-R since you are not a participant in the company's retirement plan.