What is distribution code "G" in box 7 on 1099-R?

Forum|Forum|7 years ago
June 7, 2019
25 replies
246 views

On the 1099-R form, do I pay taxes on the Gross distribution, the taxable amount is $0.00?

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Best answer by rjs

Distribution code G is a direct (trustee to trustee) rollover. You do not pay any tax on it. The gross distribution will be included on Form 1040 line 15a or Form 1040A line 11a, but nothing will be added to line 15b or 11b, which is the taxable amount.

rjs

Answer

Level 15

wangchungtonight

Level 2

On my 1099-R, I have code G in box 7 AND an amount equal to the gross distribution (line 1) inserted in line 2a. The Payer assures me the distribution was made to a qualified plan. I strongly believe this is a non-taxable yet Turbo Tax is treating the data I entered with a full tax hit. Should I set the taxable amount to zero?

michael_jones54Author

Level 2

I have two 1099-R forms. I did not accept any money from them. I rolled it over to my Fidelity account without taking any money. Do I pay taxes of the Gross distribution (box 1), even though the taxable amount in box (2a) is $0.00?