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On my 1099-R, what do the codes in box 7 mean?

of a pension, profit-sharing, or retirement plan. 5 Prohibited Transaction – This generally means the account is no longer an IRA. 6 Section 1035 exchange ( a tax-free exchange of life insurance, annuity, qualified long-term care insurance

Utah Apportionable Nonrefundable Credits

back or forward . Utah Educational Savings Plan (UESP) 529 Plan Credit If a qualified contribution was made to your Utah Educational Savings Plan (UESP) account, you may claim a nonrefundable credit. To qualify, the contribution must

Select the Addition and enter the amount below

as reported on federal Form 4970. Lump-sum distribution income If you received a lump-sum distribution from a qualified retirement plan and used the 20% capital gain election, the ten-year averaging option, or both on federal Form 4972

Maryland Subtractions from Income

exceeds $30,000, you do not qualify for the subtraction. Amount of pickup contribution shown on Form 1099R from the state retirement or pension systems included in federal adjusted gross income. The subtraction is limited to the amount

South Carolina Additions to Income

Credit (Sch. TC-47), may not claim a deduction for the same qualified contribution which results in the credit. Federal net operating loss when claiming a larger amount than for state purposes is an addition. Expenses deducted on the federal

Ohio Subtractions From Income

, such as US Savings bonds (Series E, EE, H, or I), Treasury notes, bills and bonds and Sallie Maes. Examples of interest income that are not deductible: Interest paid by the IRS on an IRS income tax refund Interest income from Fannie Maes or Ginnie

Idaho Additions to Income

SAVINGS ACCOUNT WITHDRAWAL If you make a nonqualified withdrawal from an Idaho college savings account, enter the amount withdrawn less any amounts reported on your federal Form 1040. Withdrawals from Idaho College Savings Programs

Virginia Subtractions from Income

Retirement and Railroad Unemployment Benefits Enter the amount of Tier 2 vested dual benefits and other Railroad Retirement Act Benefits and Railroad Unemployment Insurance Act Benefits included in federal adjusted gross income and reported

Modified Adjusted Gross Income and the ACA (Obamacare) Requirements

and add excluded foreign income, Tax-exempt interest, and Nontaxable Social Security benefits (including tier 1 railroad retirement benefits). Based on the total household income and the size of the household, you may qualify for lower health

Alabama Income You MUST Report

, commissions, fees, and tips. Dividends ( Schedule B ). Interest on bank deposits, bonds, notes, Federal Income Tax Refunds, mortgages on which you receive payments, accounts with savings and loan associations, mutual savings banks, credit unions