I have a 1099-R for the early distribution of a retirement account. In box 7 I have the code B1 but I also have the IRA/SEP/SIMPLE box checked. Is this possible?

[Anonymous]

The TurboTax software is indicating an error stating that I cannot have both a "B" distribution code and the IRA/SEP/SIMPLE box checked but my form defiantly does have both of them.

[dmertz · Accepted solution]

Code B and the IRA/SEP/SIMPLE box being marked are mutually exclusive.  You have an erroneous From 1099-R if this is what you received.

Code B means that the distribution is from the Designated Roth Account in a qualified retirement plan like a 401(k) while the IRA/SEP/SIMPLE box being marked indicates that the distribution is from a traditional IRA, two totally different kinds of retirement accounts.

[dmertz]

I just looked at your attached image.  That Form 1099-R is messed up!

[Anonymous]

Thank you for the response. I will call the number on the bottom of the form and try to get them to issue a corrected one