I have 2 1099R's One from the company I worked for & one from the company I transferred the funds too, when I put both in Turbo It showed over $40K the am't is $23k Why?

sharsingley · ‎April 9, 2020

AmyC · ‎April 9, 2020

Let's say you work for company A and switch to company B. You take $23,000 out of A and get a 1099R showing box 7 either a G /H for rollover or code 1 for early withdrawal.

Company B gets the money and invests it. They do not send you a 1099R unless you take it out. They would send confirmation of the deposit, it would not be a 1099R.

How do you have two 1099R forms? What codes are in box 7?

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I have 2 1099R's One from the company I worked for & one from the company I transferred the funds too, when I put both in Turbo It showed over $40K the am't is $23k Why?