1099R

Forum|Forum|2 years ago
April 9, 2024
3 replies
17 views

A client came in with 1099R from firefighter's relief association.

Box 1 gross distribution 20000

Box 2 0

Box 2b taxable amunt not determined

Box 4 has withholding for fed tax

Box 7 code 7

is it taxable or nontaxable?

ProSeries Professional

This topic has been closed for replies.

IRonMaN

Level 15

If the association is like the ones in my neck of the woods, it's all taxable. But, a good chunk of the time they are rolled over so I have to ask - did they take the money and run or did it get rolled over into an IRA?

Slava Ukraini!

Just-Lisa-Now-

Intuit Community Champion

Is it really a zero in Box 2 or is it just blank?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

C

chenschuhAuthor

Level 5

0 on box 2

but why withholding federal tax and state tax

C

chenschuhAuthor

Level 5

Did not roll over to IRA. I read from some of the post , it seems if it's roll over to pension, the its beccome taxable events.

JazzyTaxes

Level 3

If it's like the firefighter association 1099-Rs around here, yes it's all taxable for the Fed, but then it gets deducted for the State.

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