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Code 4 (without code G) on the Form 1099-R indicates a distribution that was not eligible for rollover by a non-spouse beneficiary. A distribution from a 401(k) to a non-spouse beneficiary is only permitted to be rolled over by direct rollover, reported with codes 4 and G together. Surprisingly, TurboTax allows you to report a code 4 distribution as a rollover. Under the tax code, moving an amount that is ineligible for rollover to another retirement account is deemed to be a regular (excess) contribution to that account.
Ignoring the fact that this distribution was ineligible for rollover, code 4 distributions are not taxable in PA.
Code 4 (without code G) on the Form 1099-R indicates a distribution that was not eligible for rollover by a non-spouse beneficiary. A distribution from a 401(k) to a non-spouse beneficiary is only permitted to be rolled over by direct rollover, reported with codes 4 and G together. Surprisingly, TurboTax allows you to report a code 4 distribution as a rollover. Under the tax code, moving an amount that is ineligible for rollover to another retirement account is deemed to be a regular (excess) contribution to that account.
Ignoring the fact that this distribution was ineligible for rollover, code 4 distributions are not taxable in PA.
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