IMPORTANT: This is not to be used as tax advice. Please see the IRS instructions for Form 1099-R or IRS Publication 575 Pension and Annuity Income for more information. *This is not a complete list of possible issues. Only the most common issues or errors.
Any Errors will generate once "Save & Continue" is selected.
You will be unable to Save the Form 1099-R until the error is corrected.
Depending on the issue creating the system error, most errors can be corrected but not all. (See system limitations below for such cases).
You must enter the Taxable Amount in the Overrride for Taxable Amount field listed below. You may need to scroll down to see this field. If the actual taxable amount is zero, you may enter that in this field. Once you have entered a value in the Override for Taxable Amount field, select "Save and Continue".
Depending on the issue, please double-check the Distribution Code entered in Box 7 and the IRA/SEP/SIMPLE Checkbox.
If you selected the IRA/SEP/SIMPLE Checkbox, then you will need to scroll down and select an option for Type of IRA.
Check the correct state has been selected for the Form 1099-R.
Box 7 has Code 1 entered. Code 1 does not qualify for this.
You will not be able to use this system if Federal Withholding is more than the Taxable Amount in box 2a.