- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
A code G is a direct trustee-to-trustee rollover even if you are given a check that should be issued to your IRA and not you.
If you rolled the 401(k) into a *Traditional* IRA, the 1099-R is incorrect. Box 2a must be 0 (zero). That would be a before-tax 401(k) being rolled into a before-tax IRA so nothing is taxable.
Box 2a being the same as box 1 implies that the 401(k) trustee believed that this was a 401(k) being rolled in to a *after-tax* Roth IRA so that the entire amount would be taxable.
Either the trustee that issued the 1099-R did it wrong, or you put the money into the wrong type of IRA.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎April 4, 2020
8:36 PM