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Full Version: IRS issued corrections to 1099-R Instructions
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RJMOB
Thanks to the IRS for changing the 2006 1099-R instructions. See the release at http://www.irs.gov/formspubs/article/0,,id=109875,00.html

*** If you downloaded the IRS 1099-R instructions prior to 11/10/2006, junk that copy and download the newest version (http://www.irs.ustreas.gov/formspubs/index.html).

Two big changes for IRA providers - (a) The IRS finally clarified the issue of how to report IRA distributions that might contain nondeductible amounts and (b) the IRS clearly state thats the responsibility of qualifying an entity for a charitable IRA distribution is on the taxpayer. Unfortunately, the IRS hasn't released the 2006 version of Pub 590 to give the taxpayer more guidance on the charitable IRA distribution issue.
jevd
2006 Instructions for 1040 Lines 15 A & 15 B
and 1040A Instructions for Lines 11A & 11B include instructions for
Qualified Charitable Distributions (QCD).
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