No.
Code G means Direct rollover of a distribution to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA.
This rollover is not taxable. You have to indicate in TurboTax that it is a rollover to a qualified plan or IRA.
- In TurboTax Online, open your tax return
- Click on Federal in the left-hand column, then on Wages & Income
- Navigate to the list of income categories
- Locate the section Retirement Plans and Social Security and click on the arrow on the right
- Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
- Enter your form 1099-R and follow the interview
- When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"