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OnDemand Course

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.

Learning Objectives

  • You will be able to recognize the transaction that require Form 1099-R reporting.
  • You will be able to differentiate between which transactions are reported in each box.
  • You will be able to identify the various Codes types.
  • You will be able to identify when penalties will apply and when they will not.

Runtime: 99 minutes
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Why Lorman?

Over 33 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 33 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 Course

This course was last revised on October 23, 2019.

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

  • CPE/NASBA - QAS Self Study 2.6 including Taxes 2.6
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.6 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 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 33 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407094
Published 2019
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