Learning the Rules About Retirement Plan Income by Analyzing Form 1099-R

Dealing with Form 1099-R in tax preparation often presents a unique challenge. While your client may submit this form, it only reveals a part of the story, leaving critical gaps in understanding and reporting retirement income accurately. This incomplete picture can lead to potential misreporting and the risk of incurring retirement plan penalties. The form’s complexity, coupled with the IRS’s detailed knowledge derived from it, creates a pressing need for tax professionals to grasp the nuances and underlying details that are not immediately apparent.

This online Webcast CPE course is designed to provide a comprehensive understanding of Form 1099-R. You will learn to determine the significance of the codes on the form, recognize the additional information necessary from clients or their custodians, and identify the correct reporting methods for Net Unrealized Appreciation (NUA), Qualified Charitable Distributions (QCDs), and Required Minimum Distributions (RMDs). By diving into the intricacies of Form 1099-R and its implications for IRS reporting, this course equips you with the knowledge and skills to navigate these challenges effectively, ensuring accurate reporting and avoidance of penalties for your clients.