Answered: How do I fill out 1099R that has a code 1 for premature distribution, but they used the money to buy a 1st time residence?

caroljo · ‎03-24-2023

They didn't inform the retirement company that they were using the money to purchase a home so there is only a code #1 on the 1099R. Any help will be appreciated.

dkh · ‎03-24-2023

code 1 would be correct - you have to complete the 5329 to indicate the funds were for Home Purchase

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dkh · ‎03-24-2023

code 1 would be correct - you have to complete the 5329 to indicate the funds were for Home Purchase

caroljo · ‎03-24-2023

Thank you. I should have known that.

dkh · ‎03-24-2023

You're welcome. Sometimes we all need a nudge in the right direction.

How do I fill out 1099R that has a code 1 for premature distribution, but they used the money to buy a 1st time residence?

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