- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Client has 1099-r income - annuity. No 1099-R. I know the gross received. I know part is non-taxable and that federal and state tax was withheld but I do not know the amounts.
Prudential never seems to send both the client's 1099-R's every year. Should I report the gross in the inut fiels and leave the other spaces blank and file, paying taxes on the whole amount for now.? Omit the entire amount (doesn't seem right)? File for an extension and have her pay the amount her return says is due?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I find it doubtful that Prudential is at fault. More likely the client mislaid them.
I would make a good guess, understating the withholding guess and prepare an extension and have the clients pay your guess with the extension. When they get their 1099's in order have them supply them so you can file a true and correct tax return. Be sure your fee includes dealing this is extra step.
P.S. One more reason I hate annuities.
Answers are easy. Questions are hard!
