Tax Forms

If the 1099-R does not have the taxable amount shown in box 2a taxable amount and box 2b is checked taxable amount not determined you could contact the trustee and see if they can help you in determining the taxable amount of your distribution.

For some information about this you can go to www.irs.gov and use the search box for

Topic 411 - Pensions -- the General Rule and the Simplified Method

http://www.irs.gov/taxtopics/tc411.html

If you made after-tax contributions to your pension or annuity plan, you can exclude part of your pension or annuity payments from your income. You must figure this tax-free part when the payments first begin. The tax-free amount remains the same each year, even if the amount of the payment changes.

If you begin receiving annuity payments from a qualified retirement plan after November 18, 1996, generally you use the Simplified Method to figure the tax-free part of the payments. A qualified retirement plan is a qualified employee plan, a qualified employee annuity, or a tax-sheltered annuity plan. Under the Simplified Method, you figure the taxable and tax-free parts of your annuity payments by completing the Simplified Method Worksheet in the Form 1040 Instructions or Form 1040A Instructions or in Publication 575, Pension and Annuity Income. For more information on the Simplified Method, refer to Publication 575, or if you receive United States Civil Service retirement benefits, refer to Publication 721, Tax Guide to U.S. Civil Service Retirement Benefits.

If you began receiving annuity payments from a qualified retirement plan after July 1, 1986 and before November 19, 1996, you generally could have chosen to use either the Simplified Method or the General Rule to figure the tax-free part of the payments. If you receive annuity payments from a nonqualified retirement plan, you must use the General Rule. Under the General Rule, you figure the taxable and tax-free parts of your annuity payments using life expectancy tables prescribed by the IRS. For a fee, the IRS will figure the tax-free part of your annuity payments for you. For more information, refer to Publication 939, General Rule for Pensions and Annuities.

http://www.irs.gov/publications/p575/index.htmlHow to use the Simplified Method. Complete Worksheet A in the back of this publication to figure your taxable annuity for 2009. Be sure to keep the completed worksheet; it will help you figure your taxable annuity next year. To complete line 3 of the worksheet, you must determine the total number of expected monthly payments for your annuity. How you do this depends on whether the annuity is for a single life, multiple lives, or a fixed period. For this purpose, treat an annuity that is payable over the life of an annuitant as payable for that annuitant's life even if the annuity has a fixed-period feature or also provides a temporary annuity payable to the annuitant's child under age 25. You do not need to complete line 3 of the worksheet or make the computation on line 4 if you received annuity payments last year and used last year's worksheet to figure your taxable annuity. Instead, enter the amount from line 4 of last year's worksheet on line 4 of this year's worksheet.Single-life annuity.

If you are an employer File Copy A of Form W-2 with the entire page of Form W-3 by February 28, 2010. However, if you file electronically, the due date is March 31, 2010. You may owe a penalty for each Form W-2 that you file late. See Penaltieson page 7. If you terminate your business, see Terminating a business on page 7. Form W-2 to your employees by January 28 2010. But see Extension to furnish Forms W-2 to employees on page 3 of the instructions for 2009.

Send the Form W-2 to your employees by January 28 2010. But see Extension to furnish Forms W-2 to employees on page 3.

For the 2009 tax year the date was January 28 2010 and today is July 23 2010.

Q. Can a dependent on someone else's tax return claim the first time homebuyer credit if they otherwise qualify?

A. Different rules apply depending upon whether a dependent buys a home after Nov. 6, 2009, or on or before that date. Dependents are not eligible to claim the credit on any purchase after Nov. 6, 2009. However, a dependent who buys a home on or before Nov. 6, 2009 may qualify for the credit. (11/19/09)

Q. Can a minor buy a home and claim the credit?

A. Usually, no. However, different rules apply to purchases after Nov. 6, 2009 and those on or before that date.

Minors are generally barred from claiming the credit on home purchases after Nov. 6, 2009. To qualify for the credit, a purchaser must be at least 18 years of age on the date of purchase. For a married couple, only one spouse must meet this age requirement. A dependent is not eligible for the credit, regardless of age.

For purchases on or before Nov. 6, 2009, the tax law does not bar a minor from buying a home and claiming the credit. However, taxpayers who do not otherwise qualify for the credit do not become eligible for the credit simply by using a minor child's name. In addition, under state law, children under the age of 18 generally are not bound by any contract they sign and cannot be required to comply with the terms of the contract. Thus, it is extremely unlikely that a seller of a home, or a lender if financing is required, would enter into a bona fide sale of a home to a child. Merely using the child's name to purchase a home does not qualify the child for the credit if, in substance, the child is not a bona fide purchaser of a home. (11/19/09)