On my 1099-R, what do the codes mean?
1—Early distribution, no known exception (in most cases, under age 59 1⁄2 ).
2—Early distribution, exception applies (under age 59 1⁄2 ).
3—Disability.
4—Death.
5—Prohibited transaction.
6—Section 1035 exchange (a tax-free exchange of life insurance, annuity, or endowment contracts).
7—Normal distribution. Over 59 1/2 years old.
8—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2009.
9—Cost of current life insurance protection (premiums paid by a trustee or custodian for current insurance protection, taxable to you currently).
A—May be eligible for 10-year tax option.
D—Excess contributions plus earnings/excess deferrals taxable in 2009.
E—Excess annual additions under section 415 and certain excess amounts under section 403(b) plans. Report on Form 1040/1040A on the line for taxable pension or annuity income. If the IRA/SEP/SIMPLE box is checked, you have received a traditional IRA, SEP, or SIMPLE distribution.
F—Charitable gift annuity.
G—Direct rollover to a qualified plan, a tax-sheltered annuity, a governmental 457(b) plan, or an IRA. May also include a transfer from a conduit IRA to a qualified plan.
J—Early distribution from a Roth IRA, no known exception (in most cases, under age 59 1⁄2 ). Report on Forms 1040 and 8606 and see Form 5329.
L—Loans treated as distributions.
N—Recharacterized - IRA contribution made for 2009 and recharacterized in 2009. Report on 2004 Form 1040/1040A and Form 8606, if applicable.
P—Excess contributions plus earnings/excess deferrals taxable in 2009.
Q—Qualified distribution from a Roth IRA. You are age 59 1⁄2 or over and meet the 5-year holding period for a Roth IRA.
R—Recharacterized IRA contribution made for 2009 and recharacterized in 2009.
S—Early distribution from a SIMPLE IRA in first 2 years, no known exception (under age 59 1⁄2 ). May be subject to an additional 25% tax.
T—Roth IRA distribution, exception applies. (You may not meet the 5-year holding period.) You are either age 59 1⁄2 or over or an exception (code 3 or 4) applies.