If I received a 1099-R for an IRA disbursement, but transferred all the money to another bank, will I have a tax penalty?

[macuser_22]

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@MB211 wrote:

I'm using a CD/download.

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Then is should look something like this:

[MB211]

In one TT community correspondence there was an indication that if you know that the 'Distribution code' was incorrect on the 1099-R you could enter the 'Correct code'.So really that's my question: what is the correct code for a self -driven/indirect

deposit of the total amount into a regular existing IRA to a different institution. 

[macuser_22]

Code 7 if you are age 59 1/2 or older.