Form 1099R

Forum|Forum|5 years ago
March 12, 2021
5 replies
21 views

Form 1099R...Gross distribution and @(a) the same amount. All deposits made by after taxed income. Should line (a) be zero since deposits made after tax. How do I report this on F1040.

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AmyC

Level 15

Line 4a just shows the full amount distributed. That includes rollovers, tax free, etc. Your 1099-R should be showing in 4a. Line 4b is the taxable portion and should be zero since after tax dollars.

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stevens168Author

Level 2

My 1099-R shows !. Gross distribution $28,256.00; (2a) taxable amount $28,256.00; (2b) taxable amount not determined box checked and total distribution box checked; 3 is $0; 4 fed income tax withheld $2,325.63; 7 shows code 7 and ira/sep/simple box checked. No other boxes contained any info. I asked my plan administrator to send me corrected 1099-R that show taxable amount (2a) as $0 since all deposits where after tax dollars. I was told that they could not do that. How do I show that the taxable amount is $0 when the 1099-R show $28,255.90. Do I have to use another tax form or what do I do.

WendyN2

Level 9

No, you do not have to use another tax form. Simply enter all of the information as is on the screen in the system - including the amount in box 2a, then on the next screen titled "Let us know a little more about this distribution" - since the funds were after-tax dollars - check off the circle to the left of "Roth IRA" and at the bottom check the circle to the left of "No" if no penalty applies to you for this withdrawal. You've now told the system that the IRA contributions were made with after tax dollars and this end result will be a nontaxable distribution.