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I have a client that received his RMD from 29 different funds in the same Mutual Fund Company. Each fund reports the amount distributed and the federal income tax withheld. All are separate lines on the same Form 1099-R.
I get the following Critical Diagnostic:
Per IRS electronic filing specifications, returns with more than 25 other withholdings cannot be electronically filed. This return must be filed as a conventional paper return.
Any ideas as to a way around this? I wondered if I could just enter the totals as one 1099-R since it's the same payer, same EIN and same address. I could then attach the 1099-R as a pdf attachment.
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Answers are easy. Questions are hard!
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Same EIN on each line
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I would just input ONE 1099R with ONE Gross, ONE FIT, ONE SIT, etc if they are all same EIN. That is like the continuation sheet on a 1099-DIV that gives how much from each stock or fund. I believe it is to be informational for the client, as they may have actually received 29 checks.
Answers are easy. Questions are hard!
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There is no need to attach the 1099-R as a pdf.
You're really sure the EIN is the same for all 25? For example American Funds and T Rowe Price funds each have a different EIN.
The more I know the more I don’t know.
