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1099-r question from distribution of non-qualified annuity

 
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2 Replies

1099-r question from distribution of non-qualified annuity

For some reason, my question was missing.

 

My 1099R indicates 1D, early distribution, but I didn't get the money until a month after I turned 59.5 - shouldn't it be normal distribution?

JohnW222
Expert Alumni

1099-r question from distribution of non-qualified annuity

On the face of it, it would seem that this should be a normal distribution, but see the explanation for Distribution Code 1 -- Early distribution, no known exception in Table 1, Guide to Distribution Codes in the Instructions for Forms 1099-R and 5498:

"Use Code 1 only if the participant has not reached age 59 1/2, and you do not know if any of the exceptions under Code 2, 3, or 4 apply. However, use Code 1 even if the distribution is made for medical expenses, health insurance premiums, qualified higher education expenses, a first-time home purchase, a qualified reservist distribution, or a qualified birth or adoption distribution under section 72(t)(2)(B), (D), (E), (F), (G), or (H). Code 1 also must be used even if a taxpayer is 59 1/2 or older and he or she modifies a series of substantially equal periodic payments under section 72(q), (t), or (v) prior to the end of the 5-year period which began with the first payment."

[Bolding mine.]

So, it's possible that the "1" code is correct, but if you feel that it's incorrect, you should contact the plan administrator.

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