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IRS Form 1099-R Reporting Update

Gain a better understanding of how to accurately execute Form 1099-R and handle all of the situations that can arise. Form 1099-R is a common form but most people who handle the form do not understand the ins and outs of it. Basic 1099-R forms are straightforward but it doesn't take much for complications to set in. For example, when is a required minimum distribution required? What if the participant wants to roll their RMD into a charity? What if the account has after-tax basis? What about Roth conversions involving after-tax basis and partial withdrawals from a traditional IRA? What are the contribution limits and what happens if someone exceeds those limits? This topic will answer all of these questions and more. The IRS can assess penalties against issuers of Form 1099-R for failure to comply with the rules. A mistake on the form can also cost a taxpayer money. Therefore it is critical to know how to handle this form and deal with all of the situations that can arise.


Runtime: 99 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is Form 1099-R and Who Must File

  • Box-By-Box - What Do Those Boxes Mean?
  • How to Send to the IRS

Dealing With Withdrawals

  • Handling After-Tax Basis
  • Handling Roth Conversions
  • Reporting Rollovers - a 1099-R Is Not Always Required

Other Situations

  • Excess Deferrals or Excess Contributions
  • Charitable Rollovers of Required Minimum Distributions
  • When Are RMDs Required?
  • How to Handle QDROs
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 20, 2019.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jason T. Dinesen

Jason T. Dinesen

Dinesen Tax & Accounting, P.C.

  • Owner of Dinesen Tax & Accounting, P.C. in Indianola, Iowa (just south of Des Moines)
  • Practice has over 200 clients in situations ranging from basic individual returns to corporations and nonprofits
  • Conducts regular seminars throughout the year on various Form 1099 topics, including 1099-R, 1099-MISC and 1099-K
  • Licensed public accountant in Iowa; enrolled agent with the Treasury Department
  • Can be contacted at 515-778-8189 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405865
Published 2019
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