Get 1099-r Exclusion Worksheet (lower Section Of 1099-r ... - Irs.gov - Apps Irs

The 1099-R Exclusion Worksheet is essential for reporting distributions from retirement accounts, particularly when determining non-taxable rollovers and qualified expenses. This guide will provide you with clear, step-by-step instructions to complete the worksheet accurately.

Follow the steps to successfully complete the 1099-R Exclusion Worksheet.

1. Click ‘Get Form’ button to obtain the form and open it in your preferred editor.
2. Begin by entering the full amount of any rollover on Line 1 of the worksheet. This amount should not include any distributions or Roth conversions. Completing this step ensures that the ‘Check if rollover’ box is marked on your 1040 line 15b.
3. If you made donations directly to a charity and were 70 and a half years old during the donation period, enter the amount on Line 2, as this makes the distribution non-taxable. Note that you do not receive a charitable deduction for this amount.
4. Skip any amounts rolled over to a Health Savings Account (HSA) as this is out of scope and does not need to be included.
5. For Line 4, enter the qualified amount for health or long-term care insurance premiums, paid from your retirement plan, up to $3,000. This amount may be found in Box 5 of the 1099-R form or included in a letter from your plan. If the premiums exceed $3,000, enter the excess directly on Schedule A.
6. Once you have completed all necessary fields, you can save your changes, download the completed form, print it for your records, or share it as needed.

Complete your 1099-R Exclusion Worksheet online to ensure accurate reporting of your retirement account distributions.