1099R Rollover

[geekgirldany]

Client had $8.00, yes that low of an amount, rolled into another IRA. He is calling to see if they issued a 1099r as he does not have one. I told him they may not generated one because it was under $10. If this is the case, should I just force in the 1099R and checked that it was alter/handwritten?

First time I have come across one with such a low amount. I guess they were just closing out the account.

[Roland Slugg]

Minimum for issuing a 1099-R is, indeed, $10. Don't report it as an altered form, because the T/P didn't receive an altered form. Just report the $8 on line 15a, with $0 in line 15b (unless there were additional IRA distributions). Indicate "Rollover" on the dotted line, as per the IRS's instructions.

[geekgirldany]

Thanks Roland, I will see if Drake will let me do that.

I also noticed that I can use a Form 4852 like is usually used for W-2s. Never noticed that before.