Thank you dmertz!!!
Based upon your answer, you have a much better understanding of my problem than anyone else that I have spoken to. And this includes the company that issued the 1099-R. I too, want to calculate the tax properly and report the transaction accurately to the IRS.
- Box 2a is blank
- Box 2b is checked for both Taxable amount not determined and Total distribution
- Box 5 is blank, (even though it is blank, I know the correct value from other records)
- Box 7 is "G" only, no additional codes
- Box between Box 7 and Box 8 are blank
- contribution is old and cold more than 10 years old
- I am old, but a few years out from 59 1/2
Is there any other information that would be helpful?
I truly believe that I did a direct rollover of Roth IRA funds from one custodian to a Roth IRA with another custodian.
The 1099-R is from a large insurance company's "Preference Plus Annuity Unit". (Is this a problem, because the Tax ID belongs to a unit that typically handles public employee voluntary 403b accounts?) All of my documents for my Roth IRA with the large insurance company clearly state Roth IRA.
Not sure if this is relevant, but I also had a 403b with the same large insurance company. I also did a direct rollover of my 403b account in 2024. The reporting of that transaction went through TT as expected. Clean, the 1099-R was not problematic for my answers to the interview questions and no tax owed.
Just in case you were wondering why I opened the Roth IRA with large insurance company instead of a discount brokerage. I already had a employer 403b with the large insurance company and liked the sales representative. I know... young and dumb. Now, I am older and wiser and want to be in funds with more reasonable fee structures.
In closing, I have tried to call the large insurance company to request a revised 1099-R. But they were of zero help over the phone. I am willing to call them again, but I am not sure how to suggest they correct the existing 1099R. How would you have coded the transaction based upon my description?
