Form 1099-R
A Form 1099-R is a tax document that reports distributions from retirement plans, pensions, annuities, and other sources. It is issued by the payer of the distribution, and it is sent to the recipient of the distribution and to the IRS.
The Form 1099-R includes information such as the amount of the distribution, the type of distribution, the date of the distribution, and the name and address of the payer. The recipient of the distribution is responsible for reporting the information on the Form 1099-R on their tax return.
There are several different types of Form 1099-Rs, each of which reports a different type of distribution. The most common types of Form 1099-Rs are:
- Form 1099-R for distributions from traditional IRAs. This type of Form 1099-R reports distributions from traditional IRAs, including rollovers, withdrawals, and conversions.
- Form 1099-R for distributions from Roth IRAs. This type of Form 1099-R reports distributions from Roth IRAs, including qualified distributions, nonqualified distributions, and conversions.
- Form 1099-R for distributions from 401(k) plans. This type of Form 1099-R reports distributions from 401(k) plans, including rollovers, withdrawals, and loans.
- Form 1099-R for distributions from other retirement plans. This type of Form 1099-R reports distributions from other retirement plans, such as 403(b) plans, 457 plans, and pension plans.
If you receive a Form 1099-R, it is important to review it carefully to make sure that the information is correct. If you have any questions about the Form 1099-R, you should contact the payer of the distribution.
Form 1099-Rs are due to the IRS by January 31 of the year following the year in which the distribution was made. The recipient of the distribution is responsible for reporting the information on the Form 1099-R on their tax return.