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Form 1099-R

Tax Year 2012

Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
This worksheet is used to enter the taxpayer's and spouse's income reported on a Form 1099-R. Information reported on Form 1099-R is automatically calculated and reported throughout the tax return on different forms and schedules. If additional taxes on qualified plans are payable, Form 5329 will be automatically added to the form and completed.

 

Where to Enter IRA Information
If the taxpayer has received a Form 1099-R reporting distributions from an IRA, this worksheet should be used to report that information. If the taxpayer had any other IRA activity during the tax year, the Individual Retirement Accounts worksheet should be used to report that activity.

 

Missing Form 1099-R
The Payer of the income is required to send a Form 1099-R to the taxpayer or spouse to report distributions, death benefits and certain disability payments. If the taxpayer or spouse has not received a Form 1099-R, and believes he or she should have, the Payer of the distributions and other payments should be contacted immediately.

General Directions
Enter the information for the first Form 1099-R and then click the "Save" button at the bottom of the worksheet. The user will be returned to the Worksheets screen. To add an additional Form 10990R worksheet, click the Add button next to "Form 1099-R" to open a new Form 1099-R worksheet. Enter the information for the second Form 1099-R and repeat the process until all Form 1099-Rs have been entered.  

 

 Note: Do not make an entry, such as "0" or "N/A" for boxes that are blank.

Payer and Recipient Information
Payer's Name and Address Enter the Payer's Name and Address exactly as it appears on the Form 1099-R received from the Payer.
Taxpayer or Spouse Select whether this Form 1099-R belongs to the taxpayer or spouse.
Payer's Federal ID # Enter the Payer's Federal ID number exactly as it appears on the Form 1099-R received from the Payer.
Recipient's SSN This information will be autopopulated when the user selects Taxpayer or Spouse above.
Recipient's Address The Recipient's name and address will autopopulate for either the taxpayer or spouse, depending on who is selected above.

 

Enter the correct name and address as entered on the Form 1099-R received from the Recipient only if it does not match what has been autopopulated for the Recipient.

Account Number Enter the information from the account number box on the Form 1099-R, if applicable.

 

The Account Number box can be found directly below Boxes 10 and 11.

Payment and Tax Withholding Information
Box 1 Gross Distribution
Enter the amount from Box 1 of the Form 1099-R.

 

This amount reflects the total distributions from this account and/or Payer for the tax year before income tax and other deductions were withheld.

Box 2a Taxable Amount
Enter the amount from Box 2a of the Form 1099-R, if applicable.

 

This amount reflects the taxable amount of distributions included in Box 1. If the first box in Box 2b is checked, then 2a will be left blank because the Payer was unable to calculate the taxable amount. See the Simplified Rule for directions on calculating the taxable amount.

 

If the distribution reflects a direct rollover, the taxable amount is zero, and Box 2a will be blank. (Also, the Distribution Code in Box 7 will be "G".) An entry should not be made in this case.

Retired Public Safety Officer Checkbox
Check this box if the box is checked on the Form 1099-R.

 

This checkbox will be checked if this Form 1099-R is for a retired public safety office, and the taxable amount in Box 2a has been reduced by eligible premiums paid by the taxpayer or spouse.

Box 2b Taxable Amount Not Determined
Check this box if this box is checked on the Form 1099-R. See directions above for calculating the taxable amount for Box 2a.

 

Total Distribution
Check this box if this box is checked on the Form 1099-R. This indicates that the distribution reflects the entire value of the account, which is now closed.

Box 3 Capital Gain (Included in Box 2a)
Enter the amount from Box 3 of the Form 1099-R.

 

This amount reflects the portion of the distribution from Box 2a that is taxable as a capital gain.

Box 4 Federal Income Tax Withheld
Enter the amount from Box 4 of the Form 1099-R.

This amount reflects the amount of payments made on the taxpayer's behalf during the tax year to the IRS by the Payer towards payment of the taxpayer's federal income tax obligations.

Box 5 Employee Contributions or Insurance Premiums
Enter the amount from Box 5 of the Form 1099-R.

 

This amount reflects the portion of the distribution that is tax-free because it is part of the taxpayer's or spouse's contributions to the account, including profit-sharing and retirement plans, Roth IRA accounts, and certain insurance premiums.

Box 6 Net Unrealized Appreciation in Employer's Securities
Enter the amount from Box 6 of the Form 1099-R.

 

This amount is any part of the distribution of net unrealized appreciation of the employer corporation's securities.

Box 7 Distribution Code 
Select the distribution code from the dropdown list that is entered in Box 7 of the Form 1099-R.

 

IRA/SEP/Simple Checkbox
Check the box under IRA/SEP/Simple if this box is check on the Form 1099-R. This box will be checked if this distribution is from a traditional IRA, SEP, or Simple plan.

 

A description and/or explanation of the Distribution Codes are as follows:

 

Code

Description/Explanation

 

1

Early distribution subject to 10% additional tax

 

2

Early distribution NOT subject to 10% additional tax

 

3

Disability

 

4

Payments due to death

 

5

Prohibited transaction

 

6

Tax-free section 1035 exchange

 

7

Normal distribution

 

8

A corrective distribution of excess contributions/deferrals & earnings of a section 408(d)(4) IRA distribution taxable in 2010

 

9

Cost of current life insurance protection paid by a trustee or custodian

 

A

Distribution may be eligible for 10-year tax option

 

B

Designated Roth account distribution

 

D

Excess contributions plus earnings/excess deferrals taxable in 2008

 

E

Excess annual additions under section 415 and 403(b) plans

 

F

Charitable gift annuity

G Direct roll-over from a qualified plan or a section 403(b) plan to another eligible retirement plan, including conduit IRAs.
H Direct roll-over of a designated Roth account distribution to a Roth IRA

 

J

Early distribution from a Roth IRA with no known exception

 

Loans treated as distributions

 Important. The Code "L" is used when a loan against a 401(k) plan is treated as a distribution. When e-filing a return, code "L" is not used. Instead, use the following information to assist with the proper reporting of the distribution:

  • If the taxpayer has only a code "L" and no second code in the 1099-R box 7, enter "2" in the 1099-R worksheet box 7. The code "2" will treat this distribution as an early distribution, not subject to the 10% additional tax.

  • If the taxpayer has both a code "L" and a code "4" in the 1099-R box 7, enter "4" in the 1099-R worksheet box 7. The code "4" will treat this distribution as a death benefit payout.

  • If the taxpayer has both a code "L" and a code "B" in the 1099-R box 7, enter "B" in the 1099-R worksheet box 7. The code "B" will treat this distribution as a designated Roth account distribution.

  • If the taxpayer has both a code "L" and a code "1" in the 1099-R box 7, enter "1" in the 1099-R worksheet box 7. The code "1" will treat this distribution as an early distribution, subject to the 10% additional tax.

 

N

Recharacterized IRA contribution made for 2010

 

P

Excess contributions plus earnings/excess deferrals taxable in 2009

 

Q

Roth IRA qualified distributions

 

R

Recharacterized IRA contribution made for 2009 and recharacterized in 2010.

 

S

Early distribution from a SIMPLE IRA in the first 2 years with no known exception

 

Roth IRA distribution which may or may not be qualified, but does have an exception 

 

U

Dividend distribution from ESOP under sec. 404(k)-Note: This distribution is not eligible for rollover.
W Changes or payment for purchasing qualified long-term care insurance contracts under combined arrangements.
Penalty Exception Box and Amount of Distribution (Lower Left Hand Corner and along the Bottom of Worksheet) Penalty Exception Code
Select one of the following Penalty Exception Codes from the dropdown list only if Box 7 above has a Code "1", "5", or "S" and one of the exceptions listed below applies.

 

Amount of Distribution Exempt from Penalties
Enter the amount of the distribution that is exempt from penalties, if this amount is less than 100% of the distribution.  

  Code Description/Explanation

 

01

Distribution due to separation from service in or after the year of reaching age 55

 

02

Distribution made as part of a series of substantially equal periodic payments (made at least annually) for the taxpayer's life (or life expectancy of the taxpayer) and the taxpayer's designated beneficiary. If distributions are from a qualified employee plan, payments must begin after separation from service.

 

03

Distribution due to total and permanent disability

 

04

Distribution due to death (does not apply to modified endowment contracts)

 

05

Distribution due to the extent the taxpayer had medical expenses that exceeded 7.5% of AGI

 

06

Distributions made to an alternate payee under a qualified domestic relations order (does not apply to IRAs)

 

07

Distributions made to pay health insurance premiums if taxpayer or spouse is unemployed (applies only to IRAs)

 

08

Distributions made for qualified higher education expenses that are equal to or less than actual expenses (applies only to IRAs)

 

09

Distributions made to pay for first home purchases (applies only to IRAs)

 

10

Distributions made due to an IRS levy (does not apply to IRAs)

 

11

Qualified distributions to reservist while serving on active duty for at least 180 days

 

12

Other - See the directions on Form 5329

Box 8 Other
Enter the amount from Box 8 of the Form 1099-R. Also, enter the percentage amount, if applicable.

 

The dollar amount reflects the current actuarial value of an annuity contract that was part of a lump sum distribution, and the percentage reflects the taxpayer's or spouse's share of the distribution if a multiple recipient lump-sum distribution was made.

Box 9a Your Percentage of Total Distribution
Enter the percentage amount from Box 9a of the Form 1099-R.

 

This is the taxpayer's percentage of the distribution if the distribution was made to more than one person.

Box 9b Total Employee Contributions
Enter the amount from Box 9b of the Form 1099-R.

 

This is the total amount of employee contributions or designated Roth IRA contributions made to the account for this Form 1099-R, not including amounts already received tax-free in prior years. This box is for informational purposes for the Recipient only.

Box 10 Amount of Allocable IRR within 5 Years
Enter the amount from Box 10 of the Form 1099-R.

 

For in-plan Roth rollovers made after September 27, 2010, the taxable amount of these rollovers can be split between the 2011 and 2012 tax years.

Box 11 First Year of Designated Roth Contributions
Enter the amount from Box 11 of the Form 1099-R.

 

This is the first year that a contributions was made to this IRA.

State and Local Information
Enter the information as entered on the Form 1099-R for state and local wages and taxes withheld only if the state return is being prepared with the federal return.
Box 12 State Income Tax Withheld and State
Enter the amount(s) from Box 10 of the Form 1099-R and select the state(s) from the dropdown list.

 

This reflects the amount of state incomes taxes withheld and paid on behalf of the employee to the state.

Box 13 State Payer Number
Enter the State Payer Number as shown on the Form 1099-R.
Box 14 State Distribution and Code
Enter the amount of the State Distribution and select the Code from the dropdown list as shown on the Form 1099-R, if applicable.

 

Note: The distribution codes will become available according to the state(s) selected. Some states do no have distribution codes.

 

This amount reflects the amount of the distribution that has to be reported to the state according to state law, and the Code identifies the type of distribution.

Box 15 Local Tax Withheld
Enter the amount(s) from Box 13 of the Form 1099-R.

 

This reflects the amount of local incomes taxes withheld and paid on behalf of the employee to the locality. 

Box 16 Local Payer Number
Enter the Locality Payer Number(s) as shown on the Form 1099-R.
Box 17 Local Distribution
Enter the amount of the Local Distribution(s). This amount reflects the amount of the distribution that has to be reported to the locality according to local law.
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