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AlexNYC
Returning Member

How to answer "Where is your distribution from?" for 401(k) direct rollover to IRA

I received a 1099-R form for 2020 after having the entirety of my 401(k) from my previous employer directly rolled over into a Traditional IRA. For reference, the taxable amount in box 2a of my 1099-R is $0 and the distribution code in box 7 is "G". Also, I'm filing in New York State and I'm 24 y/o.  After inputting the information from form 1099-R, it asks me "Where is your distribution from?", with these four options:

 

1. Retirement distributions from:

  • US Government (including military)
  • New York State and City Education
  • Certain public authorities
  • NYC Variable Supplemental Funds (VSF)
  • Certain annuity funds
  • Other Pensions of New York State and Local Governments

2. Retirement distributions from:

  • New York State and City Education (optional retirement program)
  • IRA rolled over from a former government pension

3. Not eligible for exclusion for those over age 59 1/2

4. None of the above (select for deferred compensation 457 plans)

 

Which of these options would I choose? I know it wouldn't be #1 or #2, as this 401(k) was from a retail/customer service job. But I don't know which of #3 or #4 applies, as the wording of #3 is confusing and I don't have a deferred compensation 457 plan mentioned in #4.

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1 Reply
JoannaB2
Expert Alumni

How to answer "Where is your distribution from?" for 401(k) direct rollover to IRA

It depends.  For example, If you received a distribution from a pivate financial entity, you may select Certain annuity funds. Form 1099-R is used to report distributions from annuities, profit-sharing plans, retirement plans, IRAs, insurance contracts, or pensions, or any other qualified retirement plans.

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