Partnership 1099-R's

[L.S.]

Partnership received 4 1099R's to the partnership id number. (1) from American Equity Investment Life Ins. Co. with a taxable amount, code 7 and amt withheld for federal and state. (2) from Aviva Life & Annuity Co w taxable amount, code 7 and amt withheld for federal and state tax. (3)from Aviva Life & Annuity Co w/ taxable amount, code 7 and amt withhold for federal and state tax. (4)from Liberty Bankers Life Ins. Co - gross distribution, total distribution box checked and code 6

Questions - there is no 1099R available for partnership - so I have used the 1040 1099R and input the above information. of course the partnership pays no taxes - inc/exp should flow through to the K-1's - should this flow through to the K and be investment income - do I need to manually put it there or does the program do this? Also, what about the withholding - how will that work - I am thinking there should not have been any withheld since partnership pays no taxes, but since there was - what happens now with that?

thanks for any and all help

[OldJack]

So how did a partnership get a retirement distribution?

[L.S.]

very good question - I am trying to get further information on this!

[kcjenkins]

If the partnership was named as beneficiary, then the partnership needs to inform each partner of their share of both the income and the withholding. I'd treat the partnership in that case just as you would someone who receives 'nominee income' entering it in but then deducting it out and issuing a 1099R to each partner for their share.