Form 1099r G distribution

Forum|Forum|5 years ago
January 31, 2021
4 replies
19 views

I worked for the federal govt for 27 years. Was on FERS . Retired early last year. I just received a Form 1099-R

noting a gross distribution from TSP noting a DISTRIBUTION CODE G . I do now receive a monthly pension

which I have recorded. However, I never personally received a gross distribution as noted on the TSP form.

Was this distribution sent elsewhere? Do I have to report it(it appears so)? Thanks

ToddL99

Level 13

Yes, you should to report this 1099-R exactly as received so the IRS will not see it as a potential error when they compare their records to your tax return.

HOWEVER, there may be another issue that you need to investigate. This 1099-R is reporting a direct rollover - rollover contribution (Distribution Code G) of your Thrift Savings Plan account. Is this something you were aware of and approved?

While a direct rollover would not be a taxable event, the real question is "Did you transfer your TSP account to another retirement plan administrator?"

If you did make the transfer, there isn't a problem. If you didn't transfer (rollover) the TSP account, then someone else might have (this would be very uncommon) and you need to contact TSP to find out what happened.