If I have no other income but I received 1099-r do I need to file and if yes how?

Question

I received 1099-r because I had to roll over my IRA. Which I did directly. There is no taxable amount for 2a, no check in 2b, nothing in box 4, box 7 is G, box 14 is empty and box 16 has same amount at the gross distribution in box one. I have not worked for a couple of years now, been in school and disabled vet, so I have no w2 to file.

kiarab · Answer

Hello Amazon_QUEEN1,

If you do end up filing a tax return, you should report all of your income, including the bit you received from savings. From what you have said, you are probably not required to file a tax return. However, like CoryF said, you may want to file it anyway so the IRS knows that the 1099-R you received (since they receive a copy of the form as well) is reporting non-taxable income. You are allowed to file a tax return even if you are not required to do so.

Amazon_QUEEN1 · Answer

https://community.freetaxusa.com/discussion/comment/6465#Comment_6465

Thank you for the response. The amount is 447.68$ that was rolled over directly. I took the quiz and it said no but I was hung up on this question:

Are you liable for an additional tax on a qualified plan, including an Individual Retirement Arrangement (IRA), or other tax-favored account, in 2025 -which i selected no because I didnt take any money, I jusy rolled it over to a new account because my old job ended there retirement plan with a company.

Anyway, I see what your saying, I jist want to amount sure I do the right thing. Also, im single, the interest income of have from savings accounts is only a few dollars, if that. If you have any additional advice, id appreciate it. Thanks.

CoryF · Answer

Hello Amazon_QUEEN1,

There are more factors to take into consideration whether or not you should file. If you have a certain amount of income (depending on your filing status and if you are married or not), even if it is not W-2 income (such as social security, interest/dividends, etc), you may still be required to file. The IRS has a useful quiz to help you figure out if you are required to file.

https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return

Please note that the Code G is for Rollovers and that is the reason why your box 2a has no taxable amount. This will show up on your tax return as the distribution amount in a left hand column to the column that shows taxable income which will be blank. You can still follow the above link to see if you need to file a tax return with your other income sources.

My opinion is that you should at least file a federal return so you can properly indicate to the IRS that the 1099-R form that they received on your behalf should not be taxed.