Message Font: Serif | Sans-Serif
No. of Recommendations: 1
On the 1099-R there are these boxes. "Taxable amount not determined" checked; "Total distribution" not checked; "IRA/SEP/SIMPLE" checked

There was no code in Box 7? That was my specific question.

When Schwab was asked, they said they do not make tax decisions for clients or give tax advise.

From this I assume you didn't say to Schwab, "The 1099-R is miscoded. I need a new one."

Assuming that your friend did complete a Qualified Charitable Distribution either Schwab miscoded the 1099-R or the preparer misprocessed a correctly coded one.

I can't venture a guess as to why the error wasn't caught before the return was filed.

Rule Your Retirement Home Fool
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.