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Jojoz
New Member

I only have a 1099-R, do I need to file taxes?

My previous company enrolled us in a Roth 401K plan in 2021, and then the company shut down in 2022. Surprisingly, I received two 1099-R forms from that  401K plan this year, the total amount is about $200. 

I didn't work in 2023, so I have no income and no insurance. The $200 is the only thing I need to file taxes for. So I filed it with TurboTax and it would cost me almost $200, including $69 Turbotax Duluxe, and $64 for a state return, plus another $64 for another state return where I lived for about 2 months. 

 

I found the price is too high, I wonder do I have to file the tax since it's only about $200 and I have no other income? Would an accountant charge less than this? 

Or can I file my taxes as I have no income? 

Any advice would be really appreciated, thank you! 

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3 Replies

I only have a 1099-R, do I need to file taxes?

You do not say how you  were supported on only $200 of income all year.  Is someone else supporting you?  If your only income was $200, you do not need to file a tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Jojoz
New Member

I only have a 1099-R, do I need to file taxes?

I have some savings from previous years and my spending is low. It's just about enough. 

JotikaT2
Employee Tax Expert

I only have a 1099-R, do I need to file taxes?

Please see this link for more details on the threshold amounts when tax returns are required to be filed.  

 

It will depend upon your filing status as well as they type of income you have.

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