Question

On the1099-R we received in the mail the box 14 and 12 amounts are reversed. Should I put the correct amounts for distribution and tax withheld in our tax form?

Forum|Forum|5 years ago
April 10, 2021
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TurboTax Deluxe Online

Employee

The IRS revised the 2020 1099-R form. Box 12 is now just a check box. The old boxes 12-14 are now 14-16. If you received an old pre-2020 form then the issuer is not following the IRS rules. You can simply put the state withholding (if any) in boxes 14-16. If no state tax was withheld then all boxes 14-16 must be blank.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**