Creating Form 1099-R
- Click on the Payer List button.
- Double click on the payer name.
- Highlight the recipient to add the form to.
- Click on the Add Form button.
- Choose 1099-R from the Form Type drop down menu.
- Fill in the necessary fields on the form:
- Return Information Tab:
- Corrected: Check if this box applies.
- Print 0 in 2A if 0: Check this box if it applies.
- Taxable amount not determined: Check box if taxable amount cannot be determined.
- Total distribution: Check box if the payment shown in box 1 is a total distribution.
- 1st year of desig. Roth contrib.: Enter the first year of the designated Roth account contribution.
- Distribution Code: Enter appropriate distribution code.
- Other %: Enter other percentage.
- % of total distrib.: Enter percentage of total distribution.
- State 1/Payer’s no.: Enter State abbreviation. Enter Payer's No. for the first state.
- State 2/Payer’s no.: Enter State abbreviation. Enter Payer's No. for the second state.
- Name of locality (1): Enter name of locality.
- Name of locality (2): Enter name of locality.
- Account Number: A number assigned to recipient by the payer. This field is optional except for the following cases:
- The recipient has multiple returns for the same return type.
- The returns are filed using the E-file Center.
- The “FATCA filing requirement” box is checked.
- FATCA filing requirement: Check this box if the payer is filing Form 1099-R to satisfy a chapter 4 account reporting requirement.
- Date of Payment: Enter the date payment was made for reportable death benefits.
- Transaction Summary Tab:
- Gross distribution: Enter the gross distribution amount.
- Taxable amount: Enter the taxable amount.
- Capital gains: Enter all Capital Gains.
- Federal Inc. tax withheld: Enter Federal Income tax withheld.
- Employee Contributions/ Designated Roth Contributions or Insurance Premiums: Enter employee contributions.
- Net unrealized appreciation: Enter Net unrealized appreciation.
- Other: Enter any miscellaneous amounts.
- Total employee contribution: Enter total employee contribution.
- Amount allocable to IRR within 5 years: Enter the amount of the distribution allocable to an IRR within 5 years.
- State tax withheld (1): Enter State tax withheld.
- State distribution (1): Enter State distribution.
- Local tax withheld (1): Enter Local tax withheld.
- Local distribution (1): Enter Local distribution.
- State tax withheld (2): Enter State tax withheld.
- State distribution (2): Enter State distribution.
- Local tax withheld (2): Enter local tax withheld.
- Local distribution (2): Enter local distribution.
- Click Save.