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1099-R

jasontran
Level 3

Hello,

Please some body help me. I encountered a 1099-R with a code M1.  I googled; it said code M1 is a loan that was paid off with an offset distribution from the retirement plan.

I look in the Proseries Professional 1040 tax software. There is no such a code listed in there.  But there is a code M.  What code should I select from the list?

Thank you,

jason

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1 Best Answer

Accepted Solutions
Just-Lisa-Now-
Level 15
Level 15

You should have 2 entry spots for codes in Box 7, you put M in one of them and 1 in the other.

m1.png


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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3 Comments 3
Just-Lisa-Now-
Level 15
Level 15

You should have 2 entry spots for codes in Box 7, you put M in one of them and 1 in the other.

m1.png


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Camp1040
Level 11

Look again!!!

First drop down box 7 select M second drop down box select 1.

Camp1040
Level 11

Didn't see your post...great visual.