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    RobynLW's Avatar
    RobynLW Posts: 2, Reputation: 1
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    #1

    Feb 9, 2009, 02:36 PM
    What does a 1099-R mean?
    I have an IRA account with Fidelity, and just received a 1099-R. Is it possible I received this in error? Do I need to report this on my taxes? Thanks for your help.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 9, 2009, 02:53 PM

    Your IRA custodian issues you a Form 1099-R if you took a distribution, including if you rolled the account over to another investment house. The 1099-R should have a distribution code, which is used to determine whether the distribution is taxable or not. Take a look at the form - what does it say in Box 7? Also, is there an amount in Box 2a (taxable amount)? Or is box 2b checked ("Taxable amount not determined")?
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