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

Amazon_QUEEN1
Amazon_QUEEN1 Member Posts: 1 Newcomer
in Filing my taxes

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.

Tagged:

Answers

  • CoryF
    CoryF FreeTaxUSA Agent Posts: 230 image
    edited 5:24PM

    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.

Categories