About chenschuh - Intuit Accountants Community

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1099 R , box 7 code 6

New client came in with a 1099R, box 1, 71000; box 5, 5000; and box 7 code 6.Total distribution box was checked.Last year the client received the same 1099R, he...

chenschuh

1

Apr 14, 2024
Re: 1099 NEC

Funny I have never noticed that with other income the standard deduction is the same as unearned income. Only when it's in schedule c, it's treated as earned in...

chenschuh

Apr 10, 2024
Re: 1099 NEC

I put it as other income because this is one time deal. If he continue to do it next year, then it become a business, I would use schedule c.

chenschuh

2

Apr 10, 2024
1099 NEC

A high school kid ref for hockey, received 1099 nec from school for 1400. I put it as other income.Standard deduction become 1250, taxable income become 150. Sh...

chenschuh

8

Apr 10, 2024
Re: 1099R

Did not roll over to IRA. I read from some of the post , it seems if it's roll over to pension, the its beccome taxable events.

chenschuh

1

Apr 09, 2024

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