Tax Forms

Form 1099-R

The form for reporting income from retirement accounts
tl;drForm 1099-R reports income from retirement accounts. Generally you get these forms when you retire and start to withdraw from your retirement accounts, but there are a few other times when you might get this form as well.

What is a 1099-R?

When you retire and start taking distributions from your retirement accounts, you will receive a form 1099-R for each one over $10. The form reports how much income you took from a single retirement account in a year.

There are other times you might get a form 1099-R, too. For example, you’ll also get one if you fail to repay a 401(k) loan, receive a payout from a life insurance policy, take early distributions from a Traditional IRA, move your fund from a 401(k) to an IRA, or close an IRA.

Make sure you save your form 1099-R, because you need to report it on your federal tax return.