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If you have a code "U" in Box 7, you will not use code "1" with it. Distributions from a ESOP are not subject to a 10% additional tax.

Code "B" is the only code that can be used with code "U." Code "B" should be used when the account is a designated Roth account.

If you need help reporting or accessing Form 1099-R in the TaxAct program, go to our Form 1099-R - Basic Information FAQ.


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