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.**