Message Font: Serif | Sans-Serif
No. of Recommendations: 0
<< The reason I reported on '98 was because I was instructed by my employer to do so, even without the 1099R. >>

Correct, because it was a return of an overcontribution for 1998. (In my earlier response, the only thing I meant should not have been included on the 1998 return was the withholding.

<< And I was also told that the 1099R would come in January of 2000. >>

Correct, because the money actually came to you in 1999.

<< That's why I was so confused. And when the 1099R did come in January 2000, it has in box 7-distribution code "P" which says that the money was taxable in 1998. So doesn't that me that I was supposed to report in '98? >>

It does. It also corroborates to IRS that your reporting of zero on line 16b is appropriate on your 1999 return.

<< This tax stuff is really ridiculous. >>

Well, you're preaching to the converted, but if it helps, I'll give that an AMEN!

Phil Marti
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.