Form 1099-R reports distributions from retirement accounts — IRAs, 401(k)s, pensions, annuities — and other retirement vehicles. Distribution codes (Box 7) indicate the type: Code 1 (early distribution, no known exception), Code 2 (early but exception applies), Code 7 (normal distribution age 59½+), Code G (rollover), Code H (Roth IRA rollover), Code Q (qualified Roth distribution). Code matters for tax treatment and penalty assessment. Verify your 1099-R reflects what actually happened — incorrect codes can trigger erroneous IRS penalties. Roth IRA contributions don't generate 1099-Rs (no distribution from a tax-deferred plan). Conversions and rollovers generate 1099-Rs with specific codes.
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Alternative Minimum Tax
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Form 1099-R
August 22, 2026 · Aditya Gupta
Tax
Related terms
Alternative Minimum Tax
Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure high-income taxpayers pay a minimum. Calculate…
American Opportunity Credit
The American Opportunity Credit provides up to $2,500 per student per year for the first four years of…
Bunching Deductions
Bunching deductions is the strategy of concentrating itemizable expenses into alternating years to exceed the standard deduction in…
Charitable Contribution Deduction
Charitable contribution deductions allow taxpayers who itemize to deduct cash donations to qualified 501(c)(3) charities up to 60%…
Child Tax Credit
The Child Tax Credit (CTC) provides $2,000 per qualifying child under 17, with $1,600 refundable as the Additional…
Deductible Business Expense
A deductible business expense must be both 'ordinary' (common in your industry) and 'necessary' (helpful to the business).…
