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When I retired from the Commonwealth of Pa. I took my
When I retired from the Commonwealth of Pa. I took my contributions from my pension and rolled them into my Roth Account. The Commonwealth sent me two 1099R's. On for a reduced amount (minus the Feder… read more
Barbara
Barbara
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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
Retired
Bachelor's Degree Equivalent
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My income limit prevented contributing directly to Roth IRA
My income limit prevented contributing directly to Roth IRA as I've always done. Maximized ($5500) non-deductible contribution to traditional IRA and completed backdoor Roth conversion before the end … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
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On form 1099-R if box 7 has a code J but box 2 has taxable
On form 1099-R if box 7 has a code J but box 2 has taxable amount not determined is any of it taxable and subject to the 10% assuming my age is under 59.5?… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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If I have received the 1099-R which says that Taxable amount
If I have received the 1099-R which says that Taxable amount is not determined checked on 2b but the Gross distribution amount of 40000 is also mentioned in Taxable income. I have transferred the mone… read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
I am completing a Form 1099-R. There is no taxable amount
I am completing a Form 1099-R. There is no taxable amount since the Gross Distribution was RSO contributions to my 401K plan with after tax money. The bottom of the page shows the amount in Box 1 as t… read more
Tax.appeal.168
Tax.appeal.168
Principal
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I made an early withdrawal from an IRA in 2012 and I did not
I made an early withdrawal from an IRA in 2012 and I did not included this in my local earned income tax calculation. I paid the federal and state, but was under the impression that for the local tax,… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,468 satisfied customers
i have a client that has a code 3 on her 1099-R and her box
i have a client that has a code 3 on her 1099-R and her box 2a says unknown how to fix that… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Can anyone tell me if there is a death benefit exclusion for
Can anyone tell me if there is a death benefit tax exclusion for a lump sum distribution on a retirement account? My client received a 1099-R as one of two beneficiaries on her fathers retirement acco… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
OK I AM LOOKING TO A 1099 R FROM A PENSION TRUST FUND BOX
OK I AM LOOKING TO A 1099 R FROM A PENSION TRUST FUND BOX 1 SAIDS 11,441.95 BOX 2 THERE IS NOTHING WRITEN BOX 2B SAYS TAXABLE AMOUNT NOT DETERMINE IS (CHECKED) TOTAL DISTRIBUTION (CHECKED) BOX 4 FEDER… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,363 satisfied customers
I borrowed money from my Roth IRA. $4161.41 according to my
I borrowed money from my Roth IRA. $4161.41 according to my 1099-R. In box 2B on the 1099-R it is checked and in total distribution it is also checked. I still have money in my Roth, I did not take it… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
From a traditional IRA contribution of $4000, TURBO TAX determined
From a traditional IRA contribution of $4000, TURBO TAX determined I had an excess ($1607 + $16.29 interest) so I removed the excess from the IRA (put in savings). How do I report that now ? And also … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
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In June 2010 I converted $10,000 from IRA to roth. Bad move,
In June 2010 I converted $10,000 from IRA to roth. Bad move, value in roth went from $10,000 to $9000. So I re-characterized back. I understand that only $9000 went back into my IRA, but I have a ques… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
I converted my 401(k) last November. I was under the assumption,
I converted my 401(k) last November. I was under the assumption, that I could roll over the After-tax portion into a Roth IRA and the remainder into a traditional IRA. Now I have received Form 1099-R … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,468 satisfied customers
My Dad converted an IRA to a Roth last year. He is 72 and recently
My Dad converted an IRA to a Roth last year. He is 72 and recently retired. He received two 1099R's from this transaction. One states the amount and then the code in box 7 is N which on the back says … read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have a client who sold a house in Ohio and is exempt from
I have a client who sold a house in Ohio and is exempt from any taxes so I will not show anything on capital gains or loss. The problem is he drew out all his health savings of 29000. and another for … read more
Bill
Bill
Master's Degree
2,278 satisfied customers
In 2006, I contributed $2000 to a ROTH IRA. However, when I
In 2006, I contributed $2000 to a ROTH IRA. However, when I prepared my tax return, I realized that my income was too high and hence this contribution was not allowed. I withdrew this money, but did n… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
In December 2006 I sent $3K to Schwab for a 2006 IRA ...
In December 2006 I sent $3K to Schwab for a 2006 IRA contribution. In Feb 2007, when I went to file my taxes, my CPA told me that I could not contribute to a traditional IRA because of earnings and my… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
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