You'll need to sign in or create an account to connect with an expert.
Most code G rollovers are from a qualified retirement plan like a 401(k) to a IRA or to another qualified retirement plan and properly appear on Form 1040 line 4c. Only a code G Form 1099-R for a rollover from a traditional IRA to a traditional account in a qualified retirement plan would have the IRA/SEP/SIMPLE box marked and would appear on line 4a.
Code G is a direct rollover, so that is not the issue.
Did you check the Box just below line 7
The IRA/SEP/SIMPLE box is checked on my copy of the 1099-R
That check box makes it an IRA instead of an Annuity/Pension
Most code G rollovers are from a qualified retirement plan like a 401(k) to a IRA or to another qualified retirement plan and properly appear on Form 1040 line 4c. Only a code G Form 1099-R for a rollover from a traditional IRA to a traditional account in a qualified retirement plan would have the IRA/SEP/SIMPLE box marked and would appear on line 4a.
I find it confusing that a 401K Direct Rollover would be categorized as "Pensions and Annuities". Your response led me to look at the Form 1040 Instructions for Line 4c/4d. This last line on page 24 clearly states: "Pension and annuity payments include distributions from 401(k)".
Thanks!
These lines of Form 1040 simply divide distributions between those that are from IRAs and those that are not.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
htb14
Returning Member
valleybuy
Level 3
srfrgyrl
New Member
calderad07
New Member
bfordmn
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.