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Retirement tax questions
Silly TurboTax. TurboTax asks the unnecessary RMD question and then ignores your answer to it. Since code G cannot be used for a distribution that includes an RMD, indicate that none of the distribution was RMD.
Note that some plans will make the mistake of not forcing the RMD to be paid out first before directly rolling over the remainder, but TurboTax does not actually catch that error. The result is that the portion that was RMD and deposited into the receiving IRA constitutes a portion that was not directly rolled over but was instead paid to the beneficiary that the beneficiary then deposited into the inherited IRA as a regular contribution, so the code 4G From 1099-R is actually inaccurate under these circumstances.
‎April 14, 2022
5:03 PM