1099-R confused

Forum|Forum|5 years ago
April 19, 2021
7 replies
63 views

I think I may have posted my 1099-R twice, do I have to put he info in the Dividend section or just where it asks for the 1099-R? I withdrew dividends from my exxonmobil stock and just want to make sure I input it right.

Best answer by DavidD66

Form 1099-R reports distributions of $10 or more from:

Profit-sharing or retirement plans.
Any individual retirement arrangements (IRAs).
Annuities, pensions, insurance contracts, survivor income benefit plans.
Permanent and total disability payments under life insurance contracts.
Charitable gift annuities, etc.

Form 1099-DIV reports dividend income. If you received a 1099-R, you do not enter it in the Dividend section. You report it in the Retirement Income section.

Whichever form you received, you only enter it once.

SweetieJean

Alumni - Champ

Did you get a 1099-R or a 1099-DIV?

rasta028Author

Level 2

It was a 1099-R and I entered it in both the 1099-DIV section and 1099-R retirement section, looks like I will have to send an amended form, luckily I am now getting a refund, only issue is since these are 2019 taxes it is affecting my 2020 return also.

ugh

DawnC

Level 15

If they are 2019 tax forms, they should only affect your 2019 tax return. Don't enter any of your 2019 tax info on your 2020 tax return. You can amend your 2019 tax return and remove the 1099-R that you duplicated, but that should have no effect on your 2020 return. Only enter 2020 tax forms on your 2020 return.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

DavidD66Answer

Level 15

Form 1099-R reports distributions of $10 or more from:

Profit-sharing or retirement plans.
Any individual retirement arrangements (IRAs).
Annuities, pensions, insurance contracts, survivor income benefit plans.
Permanent and total disability payments under life insurance contracts.
Charitable gift annuities, etc.

Form 1099-DIV reports dividend income. If you received a 1099-R, you do not enter it in the Dividend section. You report it in the Retirement Income section.

Whichever form you received, you only enter it once.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"