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Tax Resource Center

1099-R IRA/403(b) Distributions

If you received distributions from your retirement accounts, you’ll receive Form 1099-R.

Who Gets It

Shareholders who took partial or total distributions from a traditional or Roth IRA, SEP IRA, SIMPLE IRA or 403(b).

When It's Mailed

Thrivent Mutual Funds targets mail dates by January 31st.

What's In It

Distribution amount and type; and federal and state income tax withheld, if any.

How To Use It

Calculate taxable income on IRS Form 1040 and state/local tax returns.


1099-R IRA 403(b) Tax Form Information

Below are descriptions of the boxes on Form 1099-R. Refer to IRS Form 1040 for more information. At Thrivent Mutual Funds, we recommend you consult your tax advisor to make sure you’re getting the most out of your investments. Thrivent Mutual Funds and their representatives cannot provide legal or tax advice.

 

Box 1—Gross distribution

Reports the total amount of distributions from your IRA and 403(b) accounts over the past calendar year, including federal and state tax withheld on your behalf.

  • How to report on your 1040 tax return for distributions from a traditional, SEP, SIMPLE or Roth IRA:
    • Line 15a (from Box 1)
    • Line 15b - taxable amount (from Box 2a)
      • Complete IRS Form 8606 to determine the amount to report on line 15b if:
        • Your distribution is from a traditional IRA and you have made nondeductible contributions to any of your traditional IRAs in the past (Form 8606 - Part 1). 
        • Your distribution was for a Roth IRA Conversion (Form 8606 - Part II)
        • Your distribution was from a Roth IRA (Form 8606 - Part III).If you completed a rollover related to a distribution, see the IRS Form 1040 instructions for more information on how to report.    
      • If your distribution is for the removal of an excess contribution (Code 8 or P in Box 7), enter the total distribution on line 15a and the taxable portion (earnings) on line 15b. If Code P is used, the excess contribution earnings were reportable on your previous year’s tax return.
  • How to report on your 1040 tax return for distributions from 403(b) accounts:
    • Line 15a (from Box 1)
    • Line 15b - taxable amount (from Box 2a)
      • If you completed a rollover related to a distribution, see the IRS Form 1040 instructions for more information on how to report.
      • If your distribution is for the removal of an excess contribution (Code 8 or P in Box 7), enter the total distribution on line 15a and the taxable portion (earnings) on line 15b. If Code P is used, the excess contribution earnings were reportable on your previous year’s tax return.

 

Box 2a—Taxable amount

Generally, Box 2a will report the same amount as provided in Box 1. Exceptions include:

  • Roth IRA distributions
  • Removal of excess contributions
  • Recharacterizations

You are responsible for determining the taxable amount of your IRA or 403(b) distributions from your mutual fund accounts. The taxable amount not determined box is generally marked for mutual fund accounts.

 

Box 2b—Informational boxes

The taxable amount not determined box is generally marked for mutual fund accounts. "X" in the Total Distributions box indicates the distribution reported was a total distribution of the account.

 

Box 4—Federal income tax withheld

Reports the amount withheld from your distributions. This amount is a prepayment of your federal income tax.

If withholding is reported and you are not filing electronically, copy B of Form 1099-R must be filed with your IRS Form 1040.

  • How to report on your 1040 tax return:
    • Line 64 - Federal income tax withheld

 

Box 7—Distribution code(s)

Identifies the type of distribution received. Refer to the Form 1099-R instructions for more details.

  • How to report on your 1040 tax return:
    • If your distribution is Code 1 or S, review IRS Form 5329 to determine if you are subject to the early distribution penalty.

 

Box 12—State tax withheld

Reports the amount withheld on your distribution as a prepayment of your state income tax.

 

Box 13—State/payer’s state no.

Indicates your state of residence on our records at the time of the distribution. If state withholding was taken, it was remitted to the state listed on the form.

 

 

Based on 2016 IRS Form instructions. Subject to change.