charitable gift annuities, and others. The disruption caused by Corona caused more and more people to change jobs, roll over retirement accounts or retire. As a result, they are more likely to see 1099-Rs, whether issued for a distribution from an IRA or employer retirement plan. The form itself is pretty self-explanatory. All the boxes are essential, but we will focus on Box 7, where you will find the code that indicates the type of distribution being reported. Of the 29 possible codes, the most common include: Code 1: “Early distribution, no known exception.” Here the IRA owner is below age 59½ at the time of distribution. IRA custodians are not required to determine if the individual qualifies for an exception. If you have an exception, you can file Form 5329.