1099-R

MN67 — Sun, 16 Mar 2025 20:13:19 GMT

I have a 1099-R for a distribution, the Gross distribution amount is listed and the box 2b has the Total Distribution marked with the X. The box 7 has a distribution code of G, no other box has been filled in. Should the amount in box 1 be treated as taxable income since it is a rollover to another qualified plan?

Re: 1099-R

MinhT1 — Sun, 16 Mar 2025 20:18:28 GMT

No.

Code G means Direct rollover of a distribution to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA.

This rollover is not taxable. You have to indicate in TurboTax that it is a rollover to a qualified plan or IRA.

In TurboTax Online, open your tax return
Click on Federal in the left-hand column, then on Wages & Income
Navigate to the list of income categories
Locate the section Retirement Plans and Social Security and click on the arrow on the right
Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
Enter your form 1099-R and follow the interview
When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)

topic Re: 1099-R in Retirement tax questions

1099-R

Re: 1099-R