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IRA/SIMPLE/SEP box marked X on 1099-R
My 1099-R form has an X marked in the IRA/SIMPLE/SEP box, how can I tell which of these applies to my IRA? Is my IRA standard, SIMPLE, or SEP?
That box is only used to indicate that the distribution is from any one of those types of accounts. They are all treated the same with regard to taxation of a distribution reported with code 1, 2 or 7 in box 7 of the Form 1099-R, so there is no need to distinguish which specific type of traditional IRA it is. (If the distribution was from a SIMPLE IRA within the first 2 years of establishment, the Form 1099-R would have code S in box 7 to indicate that.)
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