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?
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
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
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