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What Is a 1099-R Form and How to File It

To clarify the question “what is a 1099-R form?” you need to find out details on pensions and distributions from them. The form is usually sent to the person who received a designated distribution from you. The document may be used by a person even before retirement. You have to file a tax Form 1099-R for every distribution from different sources.

Fillable Form 1099-R

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What Is a 1099-R Form?

The IRS Form 1099-R is also known as distributions from pensions, annuities, retirement, or profit-sharing plans, IRAs, insurance contacts, etc. This form must be provided any time you take the money from the retirement account, no matter the reason. You don’t have to wait for your retirement to get the form. The most popular reasons are:

  • rollovers of retirement accounts;
  • annuity and pension payments;
  • early retirement account distributions;
  • loans that go against the pension plans.

Ordinary income may be reported in the 4b and 5b lines of Form 1040. You have to use the form to notify the IRS of the federal tax return. If you have the withheld federal income tax revealed in the 4th box, you need to attach Copy B of the form to the tax return you send to the IRS.

The form must be filled in 3 copies by the account or plan custodian:

  1. The first copy or Copy A which is made in red color is sent to the IRS.
  2. The second copy or Copy B is for the distribution recipient.
  3. The third copy or Copy C is sent to the local tax department.

Printable 1099-R

How to Fill Out 1099-R Form - Detailed Instructions - Image Preview

How to File a 1099-R

If you want to learn how to file a 1099-R form, follow these detailed recommendations. Although the form is really simple, you have to pay attention to the numbers you provide. Each form contains the information on the recipient. Read the Form 1099-R instructions:

  1. Provide details on the payer, including the name and address.
  2. Include the TIN of the payer and the TIN of the recipient.
  3. Provide information on the recipient, including name and address.
  4. Provide information on the amount of money that was spent, including gross distribution, taxable amount, capital gain, income tax withheld, employee contributions, and net unrealized appreciation in employer’s securities.
  5. Provide distribution codes, percentage of total distributions, and employee contribution in total.
  6. Write down the allocable amount of money to the IRS in 5 years, 1st year of designated Roth contribution, account number, date of payment, state tax that was withheld, number of payers, state distribution, local tax withheld, name of the locality, and local distribution.

Blank Form 1099-R

FAQ

Check out these frequently asked questions about Form 1099-R. Read the answers attentively for any information you might still find unclear.

How do I get a copy of my 1099-R form?

You can receive a copy of 1099-R from the IRS. All you need to do is to download it or file it online. You need this form for your tax return. You may use PDFLiner to enter the form there.

What is a 1099-R form used for?

The form is used for the information on distributions from pensions that were made. It must be reported to the IRS to calculate your taxes properly.

How does a 1099-R affect my taxes?

This form is used to report your income. The IRS needs this information to check whether you pay your taxes properly. They calculate your chances to pay taxes on reported distributions.

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Blank Form 1099-R

Dmytro Serhiiev Author's photo
Dmytro Serhiiev

Tax Consultant & Co-Owner at PDFLiner