No 1099-R for one of my SIMPLE IRA

Forum|Forum|1 year ago
March 8, 2025
1 reply
0 views

I turned 73 in 2024, so I was not required to take any RMDs until April 1, 2025. But I chose to take one for both my traditional IRA and my SIMPLE IRA in 2024. I took them from the same traditional IRA account. I did not receive a 1099-R from my SIMPLE IRA. Should I create a "substitute 1099-R" for that account? Is that the same thing as a Form 4852? There is no Form 4852 listed under Forms in my desktop copy of TurboTax.

Thanks!

VeazyT

Best answer by robtm

If you did not take a distribution from your SIMPLE ira you will not get a 1099-r for that account and do not need one as long your total RMD was withdrawn from your other IRA. No substitute Need be created.

robtmAnswer

Employee

drjoanieAuthor

Thank you, robtm! But I received a 1099-R from my traditional IRA related to the distribution I took from that account. What I did not receive from the same traditional IRA was a 1099-R related to a separate distribution that I took from it to cover the amount, $900, that I would have been required to take no later than April 1, 2025 from my SIMPLE IRA. How do I let the IRS know that I owe tax on that $900 distribution if I don't fill out a substitute 1099-R?

drjoanieAuthor

Believe it or not, robtm, I have just discovered that the $900 I thought I was taking out of my traditional IRA account in 2024 actually was withdrawn from my savings account at the same institution! So I don't have to worry about accounting for it one way or the other on my 2024 taxes. I just have to take that $900 out of the correct account before April 1!