Distribution code G on my 1099 is described as "Direct rollover or a distribution to a qualified plan...or an IRA". However, in Turbo Tax; distribution code G = "Direct rollover and rollover contribution". The consequence of this difference changes my Federal Tax Due amount by more that $65,000!! I definitely rolled these funds directly from my 401k into a qualified plan and it is NOT a taxable event. Please HELP!!
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Here’s a shot of Turbo Tax box 7 codes. They might be worded differently but they are the same.
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