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I was 1/5 beneficiary of a life insurance policy in 2015.
I was 1/5 beneficiary of a life insurance policy in 2015. The 1099R did not have my name on it but named only one of our siblings in the whole amount. We did not claim it on our taxes in 2015 and are being told that we should have. He was held accountable for the entire amount - approx 30K - by the IRS for tax purposes and states that we each should have paid taxes on the amount of our individual disbursements. We were not issued 1099Rs in our name. He was the only one. Are we liable and if so, will we also owe back taxes? … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
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I am a retired Veteran drawing a pension. I received 1099R
I am a retired Veteran drawing a pension. I received 1099R from Dept of Def. Is my retired pension from military taxable in Minnesota? I thought a new law went into affect last year making military pe… read more
LEV
LEV
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Bachelor's Degree
14,896 satisfied customers
I forgot to include a 1099-R on my 2015 taxes because I had
I forgot to include a 1099-R on my 2015 taxes because I had not receive the 1099-R when I filed for that year. So I waited and add the 1099-R to my 2016 tax return. I have now already file my 2016 tax… read more
Robin D.
Robin D.
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How do i handle a 1099R in the name a someone who died in
how do i handle a 1099R in the name a someone who died in 2015? … read more
LEV
LEV
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Bachelor's Degree
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2015 1040A showed my pensions as 30088.00 line showed
2015 1040A showed my pensions as 30088.00 line b showed 28003.00, 2016 showed nothing on line a but on line b was 29088.00 plus 300.00 frominvestment account. Why the difference. … read more
ABC Accounting Group
ABC Accounting Group
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Is a 1099-R with box 7 code R taxable, roth to ira re
roth to ira re characterization in 2016 for rollover in 2015 generates a 1099-R with a box 7 code of R. It seems to me that that this movement of funds should be non taxable as the taxes should be paid upon withdrawal. … read more
LEV
LEV
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Bachelor's Degree
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In 2015, was suppose to take a minimum IRA distribution but
In 2015, was suppose to take a minimum IRA distribution but in error did not. Accordingly, completed form 5329 part IX requesting a waiver on the 50% penalty. Also picked up on line 15a of page 1 of f… read more
LEV
LEV
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Bachelor's Degree
14,896 satisfied customers
I contributed $6500 to a Roth IRA in Aug of 2015. In Dec
I contributed $6500 to a Roth IRA in Aug of 2015. In Dec 2015, I received a severance pay that put my 2015 AGI above the Max limit to contribute to a Roth IRA. In Feb 2016, I withdrew the funds, minus… read more
Mark Taylor
Mark Taylor
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If you put $5,500 in a traditional IRA in 2015 and convert
if you put $5,500 in a traditional IRA in 2015 and convert to a roth the next day, what form do you complete, there was a 11099-r received code 2… read more
Robin D.
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My E-filed 2015 Fed and state returns were rejected because
My E-filed 2015 Fed and state returns were rejected because I had made an error on the payer's ID number from one of my 1099-R's. This was easy enough to correct, but now I am not sure what to do. I c… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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Here is my story: I had a Roth IRA coming into 2015 and
Here is my story: I had a Roth IRA coming into 2015 and converted a former employer's 401K to a traditional IRA in 2015. I misunderstood the contributions limits and contributed $5,500 to each IRA. 1)… read more
LEV
LEV
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Bachelor's Degree
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I worked companies last year. I contributed to my 401K. I
I worked for two companies last year. I contributed to my 401K for both. I exceeded the max amount in 2015 that I am allowed to contribute. I received a distribution for the excess amount from my brok… read more
emc011075
emc011075
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I withdrew excess 2014 contributions to Roth IRA on March 2,
I withdrew excess 2014 contributions to Roth IRA on March 2, 2015. I competed a substitute 1099-R and filed my 2014 return on March 15, 2015. Today I receive a 1099-R from Wells Fargo for the same amo… read more
Robin D.
Robin D.
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I am self employed and in 2014 I had excess contribution of
I am self employed and in 2014 I had excess contribution of $4811 to my SEP IRA. In 2015, I have contributed the max I can contribute. I have now realized that I had an excess contribution and need to… read more
LEV
LEV
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Bachelor's Degree
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With a mandatory distribution from a 401K; can the money be
With a mandatory distribution from a 401K; can the money be withdrawn in January of the following year but the taxes paid in the mandatory distribution year? Example: Mandatory distribution for 2014 i… read more
LEV
LEV
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Bachelor's Degree
14,896 satisfied customers
I received notice from the military saying that I was overpaid
I received notice from the military saying that I was overpaid by $36K last year. How do I file this year?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I have two 1099R forms. One has my federal retirement plus
I have two 1099R forms. One has my federal retirement plus my withdrawal from 401k. The other 1099R has only my 401k withdrawal. The government office of OPM has combined the two amounts on one form. … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
What is my income tax liability, if any, for inheriting a Vanguard
What is my income tax liability, if any, for inheriting a Vanguard variable annuity worth approx. $30K? Actually, my sister also got--she lives in FL and I live in NY. We haven't claimed the $$ yet. T… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
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