Recharacterized IRA contribution made for the prior year and recharacterized in the current year.Įarly distribution from a SIMPLE IRA in first 2 years, no known exception (under age 59½). Qualified distribution from a Roth IRA ( where the participant meets the 5-year holding period and has reached age 59½, has died, or is disabled). Recharacterized IRA contribution made for the current year and recharacterized in the current year.Įxcess contributions plus earnings/excess deferrals (and/or earnings) taxable in the prior year. Reportable death benefits under section 6050Y.Īnnuity payments from nonqualified annuities that may be subject to tax under section 1411.ĭistributions under Employee Plan Compliance Resolution System (EPCRS).ĭirect rollover of a distribution ( other than a designated Roth account distribution) to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA.ĭirect rollover of a designated Roth account distribution to a Roth IRA.Įarly distribution from a Roth IRA, no known exception (in most cases, under age 59½). (Note: If code B is in box 7 and an amount is reported in box 11, see the instructions for Form 5329.) May be eligible for 10-year tax option (see Form 4972).ĭesignated Roth account distribution. Section 1035 exchange (a tax-free exchange of life insurance, annuity, qualified long-term care insurance, or endowment contracts).Įxcess contributions plus earnings/excess deferrals (and/or earnings) taxable in the current year.Ĭost of current life insurance protection. ( This generally means the account is no longer an IRA.) Also used for death benefit payments made by an employer but not made as part of a pension, profit-sharing, or retirement plan.) ( Regardless of the age of the employee/taxpayer to indicate to a decedent's beneficiary, including an estate or trust. Distribution codeĮarly distribution, no known exception (in most cases, under age 59½).Įarly distribution, exception applies (under age 59½).ĭeath. The following table provides information on all the possible distribution codes in Box 7 of Form 1099-R. A nontaxable charge or payment, for the purchase of a qualified long-term care insurance contract, against the cash value of an annuity contract or the cash surrender value of a life insurance contract.
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