Question: Review this scenario. Is the statement regarding a 2024 Form 1099-R correct? Is this a correct option ? Taxpayer is 45 years old, retired in

Review this scenario.

Is the statement regarding a 2024 Form 1099-R correct?

Is this a correct option ?

Taxpayer is 45 years old, retired in October 2024 after 25 years of service and began taking distributions from their 401(k).

Taxpayer should receive a Form 1099-R with Code 7 in Box 7.

This question may have more than one sub-question, which will be delivered one at a time on confirmation of your answer.

Yes

No

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