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View Full Version : I received a 1099 Q,


rom314
Mar 3, 2010, 02:20 PM
I received a 1099Q, in Gross Distribution are $14,852.03,earnings $ -4,547.97, basis $19,400.00, what form of taxes do I need to declare this form?

AtlantaTaxExpert
Apr 26, 2010, 02:30 PM
None of it is taxable, because the basis ($19,400) is greater than the Gross Distribution ($14,852).

If the situation was reversed (basis of $14,852 and Gross Distribution of $19,400), the earnings WOULD be taxable and reported on Line #21 of Form 1040.

Monkeyz
Feb 12, 2013, 07:22 PM
I got a 1099-Q showing amounts for gross distribution(1),earnings (2),basis (3),trustee-to trustee(4) ,state(5)
*I did a 100% rollover to another instituition*

What part of this forms information if any do I have to report to IRS when doing my taxes?

Thank you

AtlantaTaxExpert
Feb 12, 2013, 08:23 PM
Theoretically, the rollover is reported, but I would have to see the Form 1099-Q to be sure.