SITUATION: I contributed a traditional to Roth IRA conversion for both tax years 2023 and 2024. However, I actually made both contributions in April 2024 (before the cutoff, so that 6.5k counted for 2023, and 7k counted for 2024). On the 1099-R I received from Schwab for tax year 2024, box 1 reads 13.5k (6.5k + 7k).…
Hi. On form 1099-R, Box 15, it asks for "State/Payer's state no." What State should go there? The "Payer" is TIAA, which is located in NC. My job was in NY. (I will file as a non-resident.) My residence is in FL. The 1099R was completed by TIAA and they put "FL" in Box 15. Is that a mistake? BTW: Box 16 "State…
Hi. On one of my 1099-R forms, it encompasses three distinct events: two distributions from a regular 403b to a rollover IRA ($17K and $224K), and one distribution ($150K) from the regular 403b to a Roth IRA. The last question on the pages asks: "Did you roll over this distribution to a Roth IRA?" It does not let me…
In 2024 I contributed $7000 to a traditional IRA and immediately converted that $7000 to a Roth IRA. I have now received a 1099-R saying: 1 Gross distribution = $7000 and 2a Taxable amount = $7000 Then on freetaxusa it asks is this a roth conversion? I select YES and enter $7000 as the distribution conversion amount. Here…
I took a ROTH IRA withdrawal back in 2023 and one in 2024. I had already filed my taxes for 2023 but did not receive the 1099-R form until after I received my refund. Once I tried to amend/add it to my return, it showed I owed money. I was under the assumption a ROTH IRA account is already pre-taxed so why would I have to…
I filed my taxes last month and both my state and federal returns were accepted by the IRS. Today I stumbled upon a 1099-R form that I forgot to file. Here's where it gets complicated… I only filed an Alabama state return because the only jobs I worked in 2023 were in that state. However, I drained my retirement account in…
I submitted my return and realized I had a 1099R Form from a former employee retirement account. They made a distribution on the money I had in there, but didn't know anything about it. I found the check, that's not cashed, but what are my options? Can I forward this to my IRA? I have a Roth and a traditional IRA. Today is…
How do I enter multiple Distribution Codes in Box 7 of a 1099-R? The software only lets me choose one or another from the dropdown menu, but I have two printed in Box 7 of my form..
I followed step by step the Reporting a Backdoor Roth – Basic Scenario but my Roth conversion is not being generated properly. I can contribute directly to Roth IRA with my income(MAGI) but I did the Backdoor to learn the tax filing process. In 1040 its showing 4a. 6500$ and 4b. 6080$. I should not be having any taxable,…
I have a sort of odd 1099-R. Box 1 is $0 Box 2 is $0 (Total Distribution Checked) Box 5 is >$0 Every other box is $0. Distribution code is 1B. FreeTax won't let me fill out the 1099-R. What do I do here? Do I need to add the 1099-R as part of my return?
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