Understanding Your Form 1099-R Tour

Corrected Form 1099-Q:	[ close window ]
If this box is checked it indicates that a corrected Form 1099-Q was filed with the IRS. Corrections must be filed with the IRS as soon as possible after errors are discovered.

Copy B:

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Indicates that this is Copy B of your Form 1099-Q and what should be attached to your Federal Income Tax Return. Additional copies include:

Copy A - Filed with IRS by Principal Trust/Delaware Charter
Copy 1 - Filed with your State, City, or Local Tax Department by Principal Trust/Delaware Charter
Copy B - To be attached to your Federal Income Tax Return
Copy C - To be kept for your personal records
Copy 2 - To be attached to your State, City, or Local Income Tax Return
Copy D - To be kept by Principal Trust/Delaware Charter

Recipient's Identification Number	[ close window ]
Shows your Social Security number used for tax identification purposes.

Payer's Federal Identification Number	[ close window ]
Shows Principal Trust/Delaware Charter's tax payers identification number.

Payer's name, street address, city, state, and ZIP code	[ close window ]
As trustee to your account, Principal Trust/Delaware Charter is the payer to your account. This field shows our legal name (Delaware Charter Guarantee & Trust Company) and our mailing address.

Box 1: Gross Distribution	[ close window ]
Shows the total amount of your distribution(s) before income tax or other deductions were withheld.

Box 2: Earnings	[ close window ]
This box is left blank, unless the distribution was for a removal of excess in the current year.

Box 3: Basis	[ close window ]
This box is intentionally left blank; the IRS does not require this information for the previous tax year.

Box 4: Trustee-to-Trustee Rollover	[ close window ]
This box is intentionally left blank; the IRS does not require this information for the previous tax year.

Box 5: Type of Account	[ close window ]
The Coverdell ESA box is checked because that is the type of account the distribution was taken from.

Box 6: Designated Beneficiary	[ close window ]
The box is checked if the distributions being reported were used on behalf of someone other than the designated beneficiary.

Fair Market Value:	[ close window ]
This box shows the fair market value of the account as of 12/31 of the previous tax year.