Entered a 1099-R with Distribution Code = G. Why is the distribution showing up on form 1040, line 4c = Pensions and Annuities instead of line 4a = IRA Distributions?

chess_tramp · ‎April 5, 2020

JohnB5677 · ‎April 5, 2020

Code G is a direct rollover, so that is not the issue.

Did you check the Box just below line 7

The IRA/SEP/SIMPLE box is checked on my copy of the 1099-R

That check box makes it an IRA instead of an Annuity/Pension

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dmertz · ‎April 5, 2020

Most code G rollovers are from a qualified retirement plan like a 401(k) to a IRA or to another qualified retirement plan and properly appear on Form 1040 line 4c. Only a code G Form 1099-R for a rollover from a traditional IRA to a traditional account in a qualified retirement plan would have the IRA/SEP/SIMPLE box marked and would appear on line 4a.

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chess_tramp · ‎April 6, 2020

I find it confusing that a 401K Direct Rollover would be categorized as "Pensions and Annuities". Your response led me to look at the Form 1040 Instructions for Line 4c/4d. This last line on page 24 clearly states: "Pension and annuity payments include distributions from 401(k)".

Thanks!

dmertz · ‎April 6, 2020

These lines of Form 1040 simply divide distributions between those that are from IRAs and those that are not.

Entered a 1099-R with Distribution Code = G. Why is the distribution showing up on form 1040, line 4c = Pensions and Annuities instead of line 4a = IRA Distributions?

Retirement tax questions

Retirement tax questions

Retirement tax questions

Retirement tax questions