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Level 2
posted Jun 4, 2019 2:03:46 PM

I Rolled an employer's Traditional IRA into another Traditional IRA at my bank. Not sure if TT is properly processing the NON-Taxable, (1099R, Line 7 G) Disbursement.

Again, this is a 1099R Disbursement from a former employer. The money was transferred directly to Wells Fargo as non-taxable. I admit the new tax format has thrown me a bit;)

0 2 995
1 Best answer
Level 15
Jun 4, 2019 2:03:48 PM

In the first place you didn't have a IRA at the employer.  It was a 401k.  Code G is a direct transfer and not taxable.  It should show up on 1040 line 4a and zero taxable on 4b and should say ROLLOVER by it.  

2 Replies
Level 15
Jun 4, 2019 2:03:48 PM

In the first place you didn't have a IRA at the employer.  It was a 401k.  Code G is a direct transfer and not taxable.  It should show up on 1040 line 4a and zero taxable on 4b and should say ROLLOVER by it.  

Level 2
Jun 4, 2019 2:03:49 PM

Thanks for verifying. I worked it out long-form, and came to that conclusion. Confusion came from first using Credit Karma with a completely different, miles apart, result. They argued with me that it should flow to the taxable 4b box. I've spent a lot of time second-guessing myself. Even gave them the example of the old tax forms having the amounts flow to 14a and 14b. Oh well.