What is a Form 1099-R?

Modified on Thu, 25 Jan 2024 at 12:12 AM

A Form 1099-R is issued when you have a distribution of $10 or more from a retirement plan. You don’t have to be officially “retired” to receive a 1099-R. For instance, if you withdraw money from your retirement account to pay off debt, you’d receive a 1099-R that you would then need to report on your tax return. 


1099-R forms can be confusing because retirement accounts have special rules for taxation depending on your age, the circumstances surrounding the money you took out of your retirement account, and if you’ve paid the money back or not. Information about what each of the boxes on your Form 1099-R mean can be found here


This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.


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