Beemer

If a participant elects to split their distribution and take part of it in a lump sum payment now and defer the rest is the remaining portion reportable on the Schedule SSA? I am reading that they should not be reported if the participant receives "some or all of the benefit, whether as a lump-sum payment , or...), but I also see that participants should be reported if benefit payments cease. I would appreciate hearing how others are handling this.

I have in the past printed dual codes as "2P" for example without any problems. However, this year I am still unsure how to handle corrective distributions. Even the corrected irs instructions do not seem to directly address the issue. I think coding a corrective distribution as "2P" would cause the least amount of problems, but I am having trouble finding support for this.

Why do the instructions say to use codes 1&2 with codes 8&P?

If a participant had a corrective distribution and is under age 59 1/2, should the 1099r be coded as 2P to indicate that an early distribution exception applies? This exception is not listed as one of the options for code 2.

If a nonworking spouse is over 50 and the working spouse is not yet 50, can they make the $500 catchup contribution to the spousal IRA?