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posted Jun 6, 2019 7:18:51 AM

My 1099-R for a direct rollover of a tax-sheltered annuity shows code 6 in box 7 and 0 in 2A as taxable amount. Is this ok?

I would think box 7 should show G for a direct rollover, but do not really care if code 6 and $0 taxable will suffice

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1 Best answer
Level 15
Jun 6, 2019 7:18:52 AM

Code 6 is correct.  Your annuity is a nonqualified annuity and what you did was a nontaxable section 1035 exchange.  Code G is only for direct rollovers to or from qualified retirement plans; it is never used for distributions from nonqualified accounts.

1 Replies
Level 15
Jun 6, 2019 7:18:52 AM

Code 6 is correct.  Your annuity is a nonqualified annuity and what you did was a nontaxable section 1035 exchange.  Code G is only for direct rollovers to or from qualified retirement plans; it is never used for distributions from nonqualified accounts.