I think I have the answer to this, but want confirmation from someone else.
I performed a rollover from a 401k to a traditional IRA. However, my process of doing so involved me taking a distribution check directly and then giving it to my financial consultant who invested it into the new account. I was told that this would result in me paying taxes on the rollover distribution amount.
However, my 1099-R states things differently. Box 1 states amount of distribution and then box 2 (taxable amount) also states that full amount, but the distribution code listed is G. According to what I've read this would imply that the rollover went to an account that would NOT require paying taxes on it.
So my question: Am I okay filing this as is without paying taxes on the amount of the distribution? Turbotax has interpreted this situation as such and I am just looking for confirmation from someone else so I don't get pegged during an audit and owe taxes as well as a penalty.
Thank you!
