Draft of 2014 Instructions for Forms 1099-R and 5498
The IRS has posted a draft of the Instructions for Forms 1099-R and 5498, which can be found here: http://www.irs.gov/pub/irs-dft/i1099r–dft.pdf
For Form 1099-R it appears a new distribution code (K) may be implemented to report distributions of assets other than cash.
For Form 5498 it appears they may add the following:
Box 15a FMV of Certain Specified Assets
Box 15b Code(s)
These will be used to report the value of certain investments as identified by the codes to be used in Box 15b.
Submitted by Jose Morales on Wed, 2013-08-28 23:32