in 2021, we moved part of her NYS Teachers retirement 403b (from Voya Retirement Insurance & Annuity Co.) to a Fidelity traditional IRA rollover.
When entering the 1099R, the code in box 7 is G=Direct Rollover & Rollover Contribution with the IRA/SEP/SIMPLE box not checked, with the boxes not checked in 2a or 2b, no Fed Tax withheld (box 4) and no amounts shown for NYS withholding (box 14) & distribution (box 16). When asked "Where is this Distribution From?", I clicked the radio button that says, "New York State & City Education".
What concerns me is the rolled over amount shows up as a gross distribution. If it is rolled over (funds went directly from Voya to Fidelity, why does it show as a distribution similarly to other IRA's where I took normal distributions? Have I miss characterized the transaction?
It does not appear as though there is a taxable event, but I want to make sure I am selecting the right codes/choices to properly code the transaction as a permissible Rollover with a non-taxable event. I also received a Form 5498 from Fidelity for the Rollover IRA that received the funds.
