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Level 1

Why does a total distribution on a 1099R-Code "G" (Direct Rollover) show up as "income" when I complete income section?

This distribution was from a former employer 403(b) plan


Box 2a in 1099R has $0.0.

Box 4 in 1099R has $0.0

In both of these cases I put $0.00 into the Turbo Tax software.

I did roll the entire Total Distribution to regular IRA within 60 days

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Level 7

Why does a total distribution on a 1099R-Code "G" (Direct Rollover) show up as "income" when I complete income section?

It is showing up as income for reporting purposes. If you look at your form 1040 page 2 line 4 IRAs, pensions, and annuities, it should still show on line 4a, but zero on line 4b as a taxable amount. 

2 Replies
Level 7

Why does a total distribution on a 1099R-Code "G" (Direct Rollover) show up as "income" when I complete income section?

It is showing up as income for reporting purposes. If you look at your form 1040 page 2 line 4 IRAs, pensions, and annuities, it should still show on line 4a, but zero on line 4b as a taxable amount. 

Level 20

Why does a total distribution on a 1099R-Code "G" (Direct Rollover) show up as "income" when I complete income section?

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 and make sure it’s right.   For 1099R check 1040 line 4b for any taxable amount.  If it was a rollover it should say ROLLOVER by it.