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What is a 1099-R?


Explanation of Form 1099-R, which reports sources of retirement income from things like pensions, annuities, IRAs, Roth IRAs and 401(k)s IRS instructions to Form 1099-R - To listen to the Retirement Planning Education podcast, join the Retirement Planning Education Facebook group or download lots of free Retirement Planning Education material - #1099R #IRA #Pension DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA nor Andy Panko EMC LLC make any representations to its accuracy....(read more)


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A 1099-R is a tax form used to report distributions from retirement accounts, such as 401(k)s, IRAs, pensions, and annuities. It is used to report income from these types of accounts to the IRS. The 1099-R also reports any taxes withheld from the distributions. The 1099-R is sent to the taxpayer and the IRS. The taxpayer should receive the form by January 31st of the following year. The taxpayer should then use the information on the 1099-R to complete their taxes. The form contains important information, such as the type of distribution, the amount of the distribution, and the amount of taxes withheld. It also includes the taxpayer’s name, address, and taxpayer identification number. The 1099-R is an important form for taxpayers who receive distributions from retirement accounts. It is important to make sure that the information on the form is accurate, as it is used to report income to the IRS. If the information is incorrect, the taxpayer should contact their retirement account provider to correct the information. https://inflationprotection.org/what-is-a-1099-r/?feed_id=70253&_unique_id=63ea45ad49b1c #Inflation #Retirement #GoldIRA #Wealth #Investing #1099r #1099R #401k #403b #annuity #ira #pension #retirementplanning #RothIRA #taxreturns #ThriftSavingsPlan #1099r #1099R #401k #403b #annuity #ira #pension #retirementplanning #RothIRA #taxreturns
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