AMJ Financial Blog

Tax Info: A Guide to 1099s

If you’ve started taking distributions from your retirement account, you will soon receive a new form that will play a crucial role as you file your 2017 taxes.

A 1099-R form is issued for all IRA distributions that are made payable to an IRA or Roth IRA account owner or beneficiary and for all IRA distributions that go to a Roth IRA account, as well as all employer plan distributions.

A copy of this form is sent to the IRS in February before you file your tax return, so it is crucial that it accurately records the amount of income you received in order to avoid any unnecessary taxes and penalties.

Click here to download a Guide to IRS Form 1099-R.

Have questions? Give us a call at 703-466-0477 to schedule a time to discuss further.

Securities offered through Triad Advisors, Member FINRA/SIPC

Advisory Services offered through AMJ Financial Wealth Management LLC

AMJ Financial Wealth Management LLC is not affiliated with Triad Advisors

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