topic Re: 1099-R in Retirement tax questions

1099-R

hayk25 — Mon, 03 Feb 2025 22:15:12 GMT

I will have to amend my return. Says I can on 15th..by adding a 1099-R form (with less the $10,000) $0 being the taxable amount and federal/state blank. Will adding this form affect the current expected return amount?

Re: 1099-R

VolvoGirl — Mon, 03 Feb 2025 22:23:44 GMT

Why did you get the 1099R? If it’s not taxable and doesn’t affect your return you don’t need to amend. What code is in box 7? Amending won’t affect your first refund. In fact you need to wait to amend until the first return is done processing and you get the first refund. And the amended 1040X return won’t be ready until until Feb 15.

Then the amended return is only for the difference you get back or owe. I think the cover sheet shows what the original return WOULD have been if you did it right the first time.

Go by the actual 1040X. Line 18 should be your original refund amount and line 22 should be your additional refund. If you paid on your original return it will be on line 16. If there is an amount owed with the amendment, it will be on line 20.

Re: 1099-R

hayk25 — Mon, 03 Feb 2025 22:37:48 GMT

That’s exactly what I thought. Code G is in box 7.

Re: 1099-R

VolvoGirl — Mon, 03 Feb 2025 22:40:16 GMT

G is a direct rollover and not taxable. You don’t need to amend for that. But if the IRS asks about it you need to write back and tell them.

Re: 1099-R

hayk25 — Mon, 03 Feb 2025 22:42:14 GMT

I’ve already completed and they’ve already been accepted. So to add this form doesn’t really make sense to me but I’ve been told by 3 other professionals to add it because there is tax on it somehow? Anytime I click on amend return to add this form it says this section will be ready February 15th.