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caroljo
caroljo
Level 5
March 24, 2023
Solved

How do I fill out 1099R that has a code 1 for premature distribution, but they used the money to buy a 1st time residence?

  • March 24, 2023
  • 1 reply
  • 11 views
They didn't inform the retirement company that they were using the money to purchase a home so there is only a code #1 on the 1099R.  Any help will be appreciated.
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Best answer by dkh

code 1 would be correct -  you have to complete the 5329 to indicate the funds were for Home Purchase

1 reply

dkh
dkhAnswer
Level 15
March 24, 2023

code 1 would be correct -  you have to complete the 5329 to indicate the funds were for Home Purchase

    caroljo
    caroljoAuthor
    Level 5
    March 24, 2023

    Thank you.  I should have known that.  

      dkh
      dkh
      Level 15
      March 24, 2023

      You're welcome. Sometimes we all need a nudge in the right direction.

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