Gain a better understanding of how to accurately execute Form 1099-R and handle all of the situations that can arise.
The form 1099-R is a very complicated form used to report a lot of different transactions regarding Pensions, Annuities, Retirement Plans, IRAs, and Insurance Contracts. The bulk of these forms are prepared by large investment or insurance providers and recordkeepers using sophisticated software. This program is not designed for them. This program is designed to help businesses, accountants, bookkeepers, and tax advisors understand and review these forms to ensure information is correctly reported and to correctly report information from 1099-R on income tax returns. In addition to understanding how the most common distributions are reported, we will review the codes used on the form 1099-R and explore how some of the more complicated distributions flow from the 1099-R to the income tax return.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of Form 1099-R
- Who Normally Prepares for 1099-R?
- Electronic Filing Requirements for Information Returns
- Payer and Recipient Information Reported.
Information Reported on Boxes 1 -6
- Gross Distributions
- Taxable Distributions
- Taxable Amount Not Determined.
- Total Distribution Box - When to Check This Box.
- Capital Gains
- Federal Income Tax Withheld
- Employee Contributions/Designated Roth Contributions or Insurance Premiums
- Unrealized Net Appreciation
Box 7 - the Box That Tells the Story. Distribution Codes
- What They Are
- Preparing the 1099-R
- Reading the 1099-R and Income Tax Reporting
Roth
- Boxes Used to Report Roth Distributions.
- Box 7 Codes Specific to Roth
Information Reported on Boxes 8 -19
- Other Information
- Account Numbers
- State and Local Reporting
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 16, 2024.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Mary Mlock, CPA
BST
- Partner in charge of BST Retirement Services with 30 years of experience
- Focuses practice on employee benefits, and expertise includes design, implementation consulting, and administration of defined contribution plans and other employee benefit plans
- Member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants
- Bachelor’s degree in business administration, Siena College
- Can be contacted at [email protected] or www.bstco.com
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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