Why did Vanguard send me a 1099R when I did not receive any funds from my IRA. The 1099R from Vanguard shows in Box 1 Gross Distribution all of my Funds that in my IRA

Forum|Forum|7 years ago
June 5, 2019
5 replies
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Did you have a custodian to custodian transfer into another retirement vehicle. If so, there should be a code G in Box 7. If not, call the issuer and have them tell you why.

jclarke9496sculpAuthor

Level 2

Thanks Coleen. There is a G in Box #7. I converted my 403B into an IRA in 2017 but withdrew no funds. Why does Turbo Tax show this as a withdrawal?

Anonymous

No. the Code G indicates that it is a rollover. You must enter the 1099 but you will not be taxed on the amount. It will appear on Line 16a but not 16b.

jclarke9496sculpAuthor

Level 2

Thanks again for your help!

Anonymous

You're welcome

Anonymous

Answer

Did you have a custodian to custodian transfer into another retirement vehicle. If so, there should be a code G in Box 7. If not, call the issuer and have them tell you why.