My 1099-R has a box 7 Code G and a taxable amount however the taxable amount will not transfer to the 1040 and I don't know what to do?

[rsherwin]

When I try to override I get a warning not to efile.  The 2016 version properly transferred the taxable amount to the 1040 in the exact same situation.

[DianeW]

The code G in box 7 is indicating this was a direct rollover from one retirement plan (trustee) to another. A direct rollover is not a taxable event. When you take the funds to use them, and do not put them into another retirement account they will be taxable.

If this is not the action that was taken by you, then you should contact the issuer of the Form 1099R for correction.

[Lisa995]

With a non taxable rollover, there shouldn't be an amount as taxable in Box 2a.
Did you move money from a IRA to a ROTH as a direct trustee to trustee rollover?  or what were the circumstances of your rollover?  Is there a number code along with the G code?

[rsherwin]

It was a taxable transaction because it went from the pre-tax part of the 401k to the Roth (it was a Roth conversion but it was in plan).  I think I found a question at the bottom of the 1099 turbotax form that if I click it, all is well.  Thanks for your help.  It was item B7.  Somehow it didn't get clicked (probably my fault

[DianeW]

@rsherwin That's good news.  Thank you for sharing.

[lauren-s]

Hello @Lisa995 , 

I converted my traditional 401k to a Roth 401k in 2019. I expected to pay income tax on this. My 1099-R form has the full amount of the account in box 2a, and it has a code G in box 7. As I understand, usually the code G indicates a nontaxable event, BUT only if box 2a contains $0. If there is a dollar amount in box 2a, do I owe taxes on that amount (even if there is a code G in box 7, and no other number/letter in box 7)? 

Thank you!

[dmertz]

Yes, lauren-s you should see the full amount being included on Form 1040 line 4d and in taxable income.  Make sure that when asked in the questions that followed entering the details of the Form 1099-R that you indicated the type of Roth account (either Roth IRA or Designated Roth Account in a 401(k), 403(b), etc.) to which you rolled over the distribution.

[Z81]

my question is box 1 of my 1099 r has the dollar amount and box 2a no amount. 2b shows total distribution box checked and 7 distribution code is G. where should i place the dollar amount under income are pension annunity?

[VolvoGirl]

The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.

Enter a 1099R under

Federal Taxes Tab or Personal (Home & Business)

Wages & Income at the top

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

There are 4 boxes.  Be sure to pick the right box for the kind of 1099R you got.

If you are filing a Joint return be sure to pick which person it is for.

Don't enter the bank or broker name and don't try to import it.  It is just as fast and easy to manually enter it.  At the bottom pick -  Change How I enter my Form

Then on the next screen pick I'll Type it in Myself

It will end up on 1040 line 5a and the taxable amount on 5b will be 0 and say ROLLOVER by it.  Unless the little IRA box (between boxes 7&8) is checked.  Then it goes on line 4.