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I received 2 1099R forms from the Teacher Retirement System…

Customer Question
I received 2 1099R...

I received 2 1099R forms from the Teacher Retirement System of Texas, both have the exact same information EXCEPT - 1 has a code 2 in box 7 and the other has a code 7 in box 7. Do I file both or what is the deal ?

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

No, just this is the 1st time I've ever received 2 forms.

Submitted: 20 days ago.Category: Tax
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4/2/2018
Tax Professional: PhillipsEsq., Attorney-at-Law replied 20 days ago
PhillipsEsq.
PhillipsEsq., Attorney-at-Law
Category: Tax
Satisfied Customers: 21,306
Experience: B.A., M.B.A, J.D.
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Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Customer reply replied 20 days ago
thank you. I will check later this morning.
Tax Professional: PhillipsEsq., Attorney-at-Law replied 20 days ago

Your Question:

I received 2 1099R forms from the Teacher Retirement System of Texas, both have the exact same information EXCEPT - 1 has a code 2 in box 7 and the other has a code 7 in box 7. Do I file both or what is the deal ?

Response: Yes, you need to file both--you need to report both distributions. Code 2 means early withdrawal, which would subject you to penalty and Code 7 means normal withdrawal, which would not subject you to penalty.

Best wishes,

A 5-star positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating. However, that is how I get paid for answering questions on this site.

Thank you for your cooperation.

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Customer reply replied 20 days ago
thanks
Tax Professional: PhillipsEsq., Attorney-at-Law replied 20 days ago

You are quite Welcome!

Have a wonderful day,

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