You issued me a 1099 distribution from a retirement account

[Amyswedenborg]

Rollover versus distribution

Rollover versus distribution:

You issued me a 1099 R distribution from a retirement account. I was taught that a tax exempt transaction such as an 401k rolling over to an IRA account because of an employee leaving that place of employment was not a taxable event. A 1099 should not be issued. Please help me. If it is ok, please provide an explanation of it is wrong I need a corrected copy. Thank you very much. I have done this in the past but this is the first time I received this form. Thanks again
Amy Swedenborg
[phone number removed]

I tried to get a hold of you but was on hold for more than half an hour. I spoke to your company contact Kim but she didn't know, she had no idea what it was. She said I had to speak to you.

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You issued me a 1099 R distribution from a retirement account. I was taught that a tax exempt transaction such as an 401k rolling over to an IT A account ollover because of employee leaving that place of employment. I

[MinhT1]

A direct rollover is not taxable. However, the law requires that the plan administrator issue you a form 1099-R. It is quite normal that you receive that form 1099-R. You do not have to have it corrected.

You need to enter that form 1099-R on your tax year. Pay particular attention to the code in box 7 which should be G. Follow the TurboTax interview and indicate that it is a rollover. TurboTax will exclude the amount from taxation.