I cashed in an annuity in 2017 and rolled the entire amount into another annuity. Will there be any tax incurred?
The code in box 7 is 6
01299
1 Best answer
DanielV01
Expert Alumni
Jun 4, 2019 5:25:23 PM
No, it's not taxes. That specific code indicates a tax-free exchange (essentially a roll-over). Your box 2a amount should be a zero as well. Please see this FAQ with more information on box 7 codes: https://ttlc.intuit.com/replies/4194736
1 Replies
DanielV01
Expert Alumni
Jun 4, 2019 5:25:23 PM
No, it's not taxes. That specific code indicates a tax-free exchange (essentially a roll-over). Your box 2a amount should be a zero as well. Please see this FAQ with more information on box 7 codes: https://ttlc.intuit.com/replies/4194736