zncu
Level 2

Retirement tax questions

> the "corrected" Form 1099-R seems worse than the original

Uh oh.. that's worrisome, why do you say that?

 

In the original, which declared the entire amounts taxable, the code for each line (with taxable amount as well as tax withheld) was "02".

 

In the "corrected" one, the code for the tax withheld lines (amounts same as before) is "G", and the taxable amounts are all zero (two lines, each with amount 0, one coded "02" and the other coded "G". One exception is one single line with gross distrib and taxable amount $32.43, coded "02"). Finally, there is also a gross distribution and taxable amount for $6,000 coded "02", but this corresponds to my backdoor Roth conversion and I believe that code is correct. All lines are designated IRA/SEP/SIMPLE.