04-07-2005, 06:36 AM
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 Re: 1099R whitmandairy[at]yahoo.com wrote: - quote - > I had someone to bring in two 1099R today. She received
Assuming the distributions are the result of a QDRO, the> them as part of her divorce settlement. In box 7 on one it > is coded 1, early distribution no exceptions, but the second > one is coded 2, exceptions apply. These are from two > different accounts from two different banks. I think that > the one that show an exceptions apply has to be wrong. How > would you handle this?? Figure the penalty on both?? > Thanks, for your thought on this. payments are not subject to the early withdrawal penalty. Form 5329 exception code is 06. -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-06-2005, 03:18 PM
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| 1099R I had someone to bring in two 1099R today. She received them as part of her divorce settlement. In box 7 on one it is coded 1, early distribution no exceptions, but the second one is coded 2, exceptions apply. These are from two different accounts from two different banks. I think that the one that show an exceptions apply has to be wrong. How would you handle this?? Figure the penalty on both?? Thanks, for your thought on this. Sharon << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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