1099 R

[Sandytax]

I have a client that has received a large distribution for a regular pension. Included in the total is 4 months of pension for 2004. Under the social security rules I can go back and amend the prior year for this amount. Can I do the same for a 1099 R. His 1099R taxable amount is over $100000.

[Bees Knees]

Sorry - the lump sum election is only available for Social Security Benefits. The only other alternative method available to regular pensions is the Lump Sum Distribution rules, but that only applies if the entire qualified pension is distributed in one lump sum and the taxpayer was born before January 2, 1936.

[BP.]

ss lump sum election

I have a client that has received a large distribution for a regular pension. Included in the total is 4 months of pension for 2004. Under the social security rules I can go back and amend the prior year for this amount. Can I do the same for a 1099 R. His 1099R taxable amount is over $100000.

If using lump sum election for SS, you don't actually amend prior year. You just refigure prior year tax and include on current year. Pub 915 has the worksheets necessary.