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posted Mar 30, 2024 9:02:50 AM

What does code 4G mean in box 7 of 1099-R?

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Intuit Alumni
Mar 30, 2024 9:18:58 AM

Codes 4 and G together indicate that the Form 1099-R is reporting a rollover from a decedent's employer plan like a 401(k) to an inherited retirement account, usually to an inherited traditional IRA (nontaxable) or to an inherited Roth IRA (taxable) (although some plans allow a spouse beneficiary to establish an inherited account in the employer's plan).   Any taxable amount shown in box 2a implies that the rollover was to a Roth IRA.

1 Replies
Intuit Alumni
Mar 30, 2024 9:18:58 AM

Codes 4 and G together indicate that the Form 1099-R is reporting a rollover from a decedent's employer plan like a 401(k) to an inherited retirement account, usually to an inherited traditional IRA (nontaxable) or to an inherited Roth IRA (taxable) (although some plans allow a spouse beneficiary to establish an inherited account in the employer's plan).   Any taxable amount shown in box 2a implies that the rollover was to a Roth IRA.