Form RRB-1099-R
ProSeries : 2010For Railroad Retirement payment which one is the correct code. Both recipients are 88 years old (Form RRB-1099- B)
1
37
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03/26/11 6:44pm PDT
Viewed by asker 03/27/11 3:33pm PDT
Viewed by asker 03/27/11 3:33pm PDT
4 Replies
ArchieLeach
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Accountant Community AllStar
Advisory council of Accountant community power users.
03/26/11 6:51pm PDT
Which what is the correct code? Your question is too vague.
Morons. I've got MORONS on my team. Nobody is going to rob us going DOWN the mountain. We have got no MONEY going DOWN the mountain. When we HAVE GOT the money, goin' back UP the mountain, THEN you can sweat.
03/26/11 7:02pm PDT
The client with this retirement had code 7 for form RRB 1099R from year 2008.
From last year he had code 1 and his wife code 2. That confused me, I know that this retirement is taxable, they both are 88 years old.
But which would it be the correct one. 1 or 2 are for early distribution.
Thank your for your prompt attention to my first question.
essjay
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Allstar
Advisory council of community power users.
03/26/11 8:03pm PDT
Best Answer - Chosen by the Community
Should be 7, but 2 is for an early distribution with an exception.
I do a lot of these and have always used 7's. Don't forget to scroll down on the worksheet for the simplified method which almost always saves, although at age 88 this has likely run out
"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that rnethod which best pays the treasury..." Judge Learned Hand - U S Court of Appeals
03/27/11 3:33pm PDT
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Thank you very much, you have been very helpful.
Emma
