E-File 1099-R Form: Distributions from Pensions, Annuities, Retirement
File your 1099-R Form quickly and securely online for the current tax years
Simple Steps to E-File Form 1099-R
Register with Tax2efile- Provide Required Tax Information
- Submit Your Form to IRS
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E-File IRS Form 1099-R Online with Tax2efile
E-File your 1099-R Form affordably with Tax2efile, an IRS-authorized e-filing service provider. Our efficiency in handling tax forms eliminates manual filing, reducing errors, delays, and time consumption. With our user-centric application, submission accuracy is guaranteed, and you’ll receive your receipt within 24 hours. Say goodbye to queues and stay ahead of the curve and switch to electronic filing with Tax2efile.
What is Form 1099-R?
Form 1099-R is the official Information Return used by the Internal Revenue Service (IRS) to report distributions from retirement and profit-sharing vehicles.
A Payer (such as a financial institution, plan administrator, or insurance company) is required to issue a Form 1099-R to every Recipient (the taxpayer) to whom they have made a designated distribution of $10 or more.
Reportable distributions include:
- Pensions and Annuities: Periodic and non-periodic payments from retirement plans.
- Individual Retirement Arrangements (IRAs): Distributions from traditional, SEP, SIMPLE, and Roth IRAs, as well as conversions and recharacterizations.
- Rollovers and Transfers: Direct and indirect rollovers to a qualified plan or IRA (generally referred to as Code G or H in Box 7) are included.
- Death and Disability Payments: Reportable disability payments made from a retirement plan, as well as certain non-pension death benefit payments.
- Taxable Loan Defaults: Loans from a retirement plan that are considered a taxable distribution due to a failure to meet the repayment terms.
How to Report Form 1099-R Income and Understand Key Box Information
The 1099-R tax return is an informational return, which means the taxpayer will use it to report income on their federal tax return. If it shows federal income tax withheld, attach a copy – Copy B— in Box 4. The total amount paid by the Public Employees Retirement System (PERS) during that tax year includes the Cost-Of-Living-Adjustment (COLA) if applicable. The taxpayer must report amounts from the tax return 1099-R as ordinary income on lines 4b and 5b of Form 1040.
- Disability
- Death
- IRS levy
- Medical charges exceeding 7.5% of AGI (Adjusted Gross Income)
- An exception is also met if the bills are made to an alternate payee under a qualified domestic relations (divorce) order.
If the form shows federal income tax withheld, attach a copy – Copy B to your tax return in Box 4.
Key Boxes on Form 1099-R
Understanding the IRS Form 1099-R key box information is essential for accurate and error-free filing.
- Box 1 Gross Distribution: This box is used to fill the total amount that was distributed from a retirement account, pension, annuity, or insurance contract during the tax year.
- Box 2a Taxable Amount: It displays the part of your distribution that is subject to tax. In case “unknown” is selected, you need to determine the taxable portion based on your contribution history or cost basis.
- Box 2b Taxable Amount Not Determined/ Total Distribution: When the box is checked, it signifies that the payer has not figured out the taxable part of the distribution or the entire balance was distributed from the account.
- Box 3 Capital Gain (Included in Box 2a): Used to report the capital gain of the distribution, which is mainly applicable to certain annuities or insurance contracts.
- Box 4 Federal income Tax Withheld: It indicates the amount of federal income tax withheld from your distribution
- Box 5 Employee Contributions or Insurance Premiums: Reports the portion of your distribution that is not subject to tax, for example, your own after-tax contributions or insurance premiums paid. This amount is used to lower the taxable portion displayed in Box 2a.
- Box 6 Net Unrealized Appreciation (NUA) in Employer’s Securities: If you received a lump-sum distribution that included employer stock, this box reports the unrealized appreciation in those securities.
- Box 7 – Distribution Code(s): Among these boxes in the form, this is one of the important boxes that explain the type of distribution through distribution codes.
- Box 8 Other: Any other taxable amount not included above.
- Box 9a Your Percentage of Total Distribution: Report your total percentage here if you receive only the part of a distribution. (Ex: Joint Plan)
- Box 9b Total employee contributions: The total after-tax employee contributions in the plan (remaining) before distribution.
- Box 10 Amount Allocable to IRR within 5 Years: If part of the distribution was an in-plan Roth rollover, this shows the allocable amount.
- Box 11 1st year of designated Roth contribution: Report the first year that the IRS was initially set up for this recipient
- Box 12 FATCA filing requirement checkbox: Check this box if there is a FATCA (Foreign Account Tax Compliance Act) filing requirement for the payee.
- Box 13 Date of Payment: Report the date of distribution made. This helps the recipient to know the tax year and timing.
- Boxes 14, 15, 16 State Tax Distribution: Report the amount of state income tax withheld, state identification number, and portion of distribution subject to state tax for recipient
- Boxes 17,18 & 19 Local Tax Withheld/Name of Locality/ Local Distribution: Report the local tax withheld, name of locality and portion of local distribution.
Watch our step-by-step video on How to E-File IRS Form 1099-R with Tax2efile
Who Must File Form 1099-R?
- Contract proprietors who file distributions from their annuities during the previous calendar year will be receiving a 1099-R tax return. For clients enrolled in electronic delivery, notification of 1099-R availability on the website is sent to the email address on record.
- If the contract has joint owners, the 1099-R is issued to the primary owner.
- A 1099-R is also not generally generated on corporate-owned, nonqualified, 401(k), Pension, Keogh, 457 (b), or 501(c)(3) not-for-profit, entity-owned contracts or for contracts held by a custodian company. In this case, please contact the respective custodian for your 1099-R.
When is the Form 1099-R Deadline?
| Filing Type | Deadline |
|---|---|
| Recipient copy | January 31st |
| IRS Paper Filing | February 28th |
| IRS Electronic Filing | March 31st |
Note: If the due date/deadline falls on a Saturday, Sunday, or federal holiday, the filer will need to E-file on the next business day.
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