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New Member
posted Jun 6, 2019 12:11:41 AM

Hi. i am imputting a 1099-r and in box 7, I have a 6. this account went into another retirement aaccount. Will i be taxed on this monry??

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1 Best answer
Level 15
Jun 6, 2019 12:11:44 AM

Code 6 reports a 1035 exchange of one nonqualified annuity or insurance policy to another, not a rollover.  It is reportable income, but not taxable income.  This Form 1099-R should have a zero in box 2a and TurboTax will exclude this distribution from taxable income on Form 1040 line 4b.

2 Replies
Level 15
Jun 6, 2019 12:11:44 AM

Code 6 reports a 1035 exchange of one nonqualified annuity or insurance policy to another, not a rollover.  It is reportable income, but not taxable income.  This Form 1099-R should have a zero in box 2a and TurboTax will exclude this distribution from taxable income on Form 1040 line 4b.

New Member
Jun 6, 2019 12:11:48 AM

I would check with your Broker and make sure you have the right form. 

If you "rolled over" that money into another Retirement Account, there should most likely be a Code G in that Box 7.