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    mfrancogua's Avatar
    mfrancogua Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Feb 10, 2009, 09:21 PM
    1099-R do Ihave to filed?
    My son has a 1099-R form $ 8,769.42 does he has to filed taxes?? In line 4 he has $ 1,753.87 can he get a Refund??
    Thank you for your answers.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 10, 2009, 11:18 PM

    Form 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

    You will report the distribution on line 15a or 16a of Form 1040. Then on 15b or 16b, you will report the amount that is taxable after considering any amount you did rollover to a qualified rollover. On line 62, you will show taxes withheld.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Feb 25, 2009, 04:03 PM
    If the CODE is a "1", then he did an EARLY distribution, which means he likely will pay EVEN more tax than the $1,754 already withheld.

    Early distributions from 401Ks/IRAs are NOT a good thing!
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