- Correct. The Form 1099-R would have code G in box 7, the gross amount in box 1 and the taxable amount in box 2a. If the distribution includes any after-tax money, that would be shown in box 5.
- Correct. The Form 1099-R for the distribution from the 401(k) would have code G in box 7, th gross amount in box 1 and zero in box 2a. If this distribution includes any after-tax money, that would be shown in box 5. The Form 1099-R for the Roth conversion would show the gross amount in boxes 1 and 2a, box 2b Taxable amount not determined marked, code 2 or code 7 in box 7 depending on your age and the IRA/SEP/SIMPLE box marked. Form 1040 line 4a would show the gross amount of the Roth conversion and line 4b would show the taxable amount (the same as 4a if you have no basis in nondeductible traditional IRA contributions). Form 8606 Part II will report the Roth conversion.
- Correct.
- The other forms that you would receive are the Forms 1099-R I described above.
‎October 21, 2022
10:15 AM
