1 Answer

From Turbo Tax:

Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. is used to report retirement benefit distributions (payments) from pensions, annuities, or other retirement plans.

You should receive a 1099-R if you received a distribution of $10 or more from your retirement plan.

In addition to distributions, Form 1099-R is used to report:

• Conversions: Money moved from a traditional retirement plan to a Roth IRA.


• Rollovers: Money moved from your retirement savings plan into another account.


• Recharacterizations: This is when you reverse (undo) a rollover or conversion to a Roth IRA.

We'll use the information from your Form 1099-R to determine if your transaction is taxable and/or subject to any penalties.

Note: Form 1099-R is the most commonly-encountered retirement form, but there are a number of 1099-R "flavors", like:

• SSA-1099


• CSA-1099-R


• CSF-1099-R


• RRB-1099


• RRB-1099-R

The Form 1099-B is a form issued by a broker or barter exchange that summarizes the proceeds of all stock transactions. The sale of a stock will be accompanied by a gain or loss, which must be reported to the IRS when you file your taxes. Specifically, figures from form 1099-B are used on IRS Form 1040, Schedule D.