DianeW
Expert Alumni

Retirement tax questions

The code G in box 7 is indicating this was a direct rollover from one retirement plan (trustee) to another. A direct rollover is not a taxable event. When you take the funds to use them, and do not put them into another retirement account they will be taxable.

If this is not the action that was taken by you, then you should contact the issuer of the Form 1099R for correction.