Form 1099-R

Form 1099-R

A IRS form with which an individual reports his or her distributions from annuities, profit-sharing plans, retirement plans, IRAs, insurance contracts and/or pensions. The following are some of the items included on the form: the gross distribution paid during the given tax year, the amount of the distribution that is taxable, the federal income tax that was withheld, contributions made to the investment or premiums paid and a code that represents the type of distributions made to the holder of the plan.

Notes:

The plan custodian sends the form to the owner of a plan if he or she has made distributions of $10 or more from the plan in a given year. The form is mailed to recipients by Jan 31 of the year after the distribution was made. In some cases, the individual needs to attach a copy of Form 1099-R to his or her tax return. This individual (the receiver of the distributions), the Internal Revenue Service (IRS) and the municipal or state tax department (if applicable) all receive a copy of the form.

See also: 401(k) Plan, Annuity, Capital Gain, Distribution, Dividend, Individual Retirement Account - IRA, Internal Revenue Service - IRS, Profit-Sharing Plan, Schedule D, Traditional IRA