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I have a 1099R form for a 1035 annuity exchange where there…

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Second opinion] I have...

Second opinion] I have a 1099R form for a 1035 annuity exchange where there is no taxable amount in Box 2a. How do I indicate this on my Form 1040 since just putting a 6 did not work for my AARP tax helper?

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

The AARP helper said she did not know how to handle this.

Submitted: 1 month ago.Category: Tax
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3/12/2018
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 month ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,980
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi. My name’s Lane …

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, to clients on three continents, since 1986.

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Bear with me a moment while I type up my response.

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Then if you have further questions we can go from there.

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 month ago

You simply need to be sure that the taxable amount is zero on line 16(b) of the return.

...

16(a) should show pension distributions then 16(b) is taxable amount.

...

Becasue you did a 1035 exchange that taxable amount is zero.

...

IRS will see that when they get the acknowledgment from the new annuity provider

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 month ago

Did you need more here... did that help?

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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,980
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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