What should I do if I have a 2010 1099R but did not receive the proceeds until 2011? 3 Answers as of March 09, 2011

I received a 2010 1099R for annuity proceeds but did not receive the proceeds until 2011. May I declare the proceeds in 2011 with an explanation to the IRS or must I declare them in my 2010 tax year?

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Law Office of Harry Gordon Oliver II
Law Office of Harry Gordon Oliver II | Harry Gordon Oliver II
Should be reported in 2011, but explain that on your 2010 tax return. Do not forget to report the taxable event in 2011.
Answer Applies to: California
Replied: 3/9/2011
Steven J. Fromm
Steven J. Fromm | Steven J. Fromm & Associates, P.C.
You need to go back to the organization that issued this Form 1099-R and have them report an amended Form 1099-R to both the IRS and to you. Otherwise, you must report this income in 2010.
Answer Applies to: Pennsylvania
Replied: 3/7/2011
Meyer & Yee, LLP
Meyer & Yee, LLP | Kent W. Meyer
If the amount was irrevocably set aside in 2010 then you should pick it up in 2010.
Answer Applies to: California
Replied: 3/6/2011
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