1099R

3 replies
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In 2022, I moved funds from my 401(k) to a designated Roth 401(k). It was an in-plan rollover (IRR). I also paid the estimated federal taxes on this distribution in 2022 from a separate account. I received a 1099R that listed the distribution in box 1 and $0.00 in box 2a. In box 7 the code is "G" which says it was a direct rollover. When I enter this information, TurboTax incorrectly tells me that I will get the federal taxes that I paid for this IRR process refunded. How do I enter the information to reflect the correct data?

JohnB5677

Alumni - Intuit

It seems your 1099-R was not coded properly. Code G is Direct rollover of a distribution to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA.

For a direct conversion to a Roth IRA when the IRA owner is under age 59½, use code 2, Early distribution, exception applies. Code 2 lets the IRS know that the individual is under age 59½ but that he or she qualifies for certain exceptions.

Roth IRA conversion

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Opus 17

Level 15

@dmertz

Do you have 2 codes? Sometimes there are 2 codes, a number and a letter.

I'm not actually sure "2" or "G" are correct in this situation, but I don't know what would be correct. But I suspect the codes are wrong, or you skipped half the code.

dmertz

Level 15

Is any amount shown in box 5?

When TurboTax asked, did you correctly indicate that you rolled the distribution over to a Roth 401(k) or Roth 403(b)?

On an code-G Form 1099-R there can be no amount of tax withholding shown in box 4 or the state withholding boxes; tax withholding is not permitted on an IRR.

An IRR is reported with code G and no other code in box 7.

If you still are not seeing the correct amount being included on Form 1040 line 5b, try deleting the 1099-R and reentering it.