1099-R same as default, adds logic for tax code 264 impact on boxes 2a and 2b
The following table lists the account types, the corresponding 1099-R box numbers, and the withholding references. Following that is a list of applicable tax codes.
Account type/WH | Gross Dist - Box 1 | Taxable amt - Box 2a | Txbl amt not determined - Box 2B | Fed WH | State WH | Notes |
|---|---|---|---|---|---|---|
IRA/SEP/SIMPLE w/WH | TC + WH | TC + WH | Checked | 235 | 236 | If earnings (tax code 264) included, replace the calculated for box 2a, 2b is checked |
IRA/SEP/SIMPLE w/0$WH | TC | TC | Checked | N/A | N/A | If earnings (tax code 264) included, replace the calculated for box 2a, 2b is checked |
NOT IRA/SEP/SIMPLE w/WH | TC + WH | TC + WH | N/A | 235 | 236 | If earnings (tax code 264) included, replace the calculated for box 2a, 2b is NOT checked |
NOT IRA/SEP/SIMPLE w/0$WH | TC | N/A | Checked | N/A | N/A | If earnings (tax code 264) included, replace the calculated for box 2a, 2b is NOT checked |
Applicable tax codes
Tax code | Description | 1099-R dist |
|---|---|---|
244 | Excess contrib. taxable in current year | 8 |
251 | Excess contributions taxable prior year | P |
252 | IRS distribution code 81 | 81 |
280 | IRS distribution code 8K | 8K |
291 | IRS distribution code 1P | 1P |
294 | IRS distribution code 4P | 4P |
468 | Excess contrib. taxable in current year | 84 |