1099-R My taxable income includes four rollovers coded "G"even though these are not taxable.

[CherylW · Accepted solution]

You're right, code G is not taxable.  It represents a Direct Rollover to a Qualified Plan, 403(b), Governmental 457(b) plan, or an IRA. 

These get reported to the IRS, even though they are not taxable.  They show up on line 15a or 16a (depending on whether it's a distribution from an IRA or pension). 

The important thing is that they're not showing up on 15b or 16b.  If they do, they go into the calculation of your adjusted gross income, which is then taxed. 

If you choose code G on the 1099-R input screen, Turbo Tax will treat them correctly as non-taxable.  You may have to delete each one and enter them again, choosing G in box 7 of your 1099-R input screen.

[dmertz]

Code G means that the taxable amount is shown in box 2a.  If the amount in box 2a is zero, TurboTax will treat it as nontaxable.  (If the amount in box G is nonzero, it indicates a taxable rollover to a Roth IRA.)

[andreaksmith10]

2a has 0.00 but it is listed as taxable.

[macuser_22]

Look on the 1040 form.    The income summary screen will show it as income, which is is, but not taxable income.  The summary screen only shows your entries and the box 1 totals.  It has nothing to do with the taxable amount.

[northaurorataxwa]

16B on my 1040 is showing taxes even though I reported my rollover using G.  Box 2A on 1099R was $0.  I don't understand why TurboTax is reporting this as taxable income

[macuser_22]

@northaurorataxwa - Delete the 1099-R and make sure that box 16b is zero or blank and it is not coming from somewhere else.   The re-enter.   A code G with box 2a zero should have a zero on line 16b.

(It will show as income on the income summary screen that shows gross income, not taxable income.)

[dmertz]

Also, make sure that box 2a of TurboTax's 1099-R was not left blank.