ThomasM125
Employee Tax Expert

Retirement tax questions

Code B in box 7 means you had a distribution from a ROTH IRA. As such, there should be an amount in box 1 which reports the gross distribution. Since you said you rolled over a 401K balance to a traditional IRA, I'm not sure what the second 1099-R is reporting. I suggest you ask the broker what is being reported on the second 1099-R. Since it shows no gross distribution, it may not need to be reported on your tax return.

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