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Category: 1099's

What is a Form 1099-R? (View sample form)

Form 1099-R is used to show distribution from retirement accounts. This form can be used to report distributions from:

  • IRAs
  • Pensions
  • Annuities
  • SEPs
  • SIMPLE Plans

Form 1099-R will usually show items such as the gross amount of the distribution, the taxable amount (what is actually going to be taxed), tax withholding (federal and state), and a distribution code (box 7) to show why you received the distribution.

If you do not have an amount for the taxable amount (box 2a), this DOES NOT mean that it is not taxable. Instead, it means that the payer didn't have enough information to determine how much the taxable amount should be. In this case, you have to figure the taxable amount yourself. In most cases, you will need to use the Simplified Method Worksheet to determine the taxable amount.

To view a sample Form 1099-R, click here

For information on 1099-R: Early Withdrawal Penalty

For information on Who can take the Retirement Savings Contributions Credit? (Savers Credit)