Why does 1099-SR have 'rollover' for box 4B?

kflorup · ‎March 31, 2023

MarilynG1 · ‎March 31, 2023

If your 1099-R has a Code G in Box 7, this indicates a 'Rollover' of funds from one plan to another. Rolled over funds are generally non-taxable.

If not, you may have indicated in the questions following your 1099-R entry that you 'rolled over' the distribution into another retirement plan.

If this does not apply, go back to your entry and check your responses to the questions in TurboTax.

Here's more info on IRA Rollovers.

@kflorup

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dmertz · ‎March 31, 2023

Form 1040 line 4b will show the word ROLLOVER if you indicated to TurboTax that you moved some of a distribution to another retirement account or back to the same account.

(It's unlikely that you have a Form 1099-R with code G in box 7 and the IRA/SEP/SIMPLE box marked. Such a rollover from a traditional IRA to a qualified retirement plan at your employer is rather rare and, if an you actually did such a rollover, it's even less likely that you would have any question about it.)