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Level 1
posted Apr 8, 2024 8:55:52 PM

MULTIPLE DISTRIBUTION CODES ON SAME 1099-R

I took my required MPP distribution early in 2023. later in the year, i rolled the MPP over into an IRA.

 

the required distribution was coded as 7, and the taxable amount not determined was checked.

 

the total distribution was coded as G and the total distribution box was checked.

 

TT gave me an opportunity to indicate both of those, but on the final check, it will not let me do so and therefore not to file electronically. 

 

i am confused.

0 4 2725
4 Replies
Level 15
Apr 8, 2024 8:59:36 PM

What is MPP?  Did you get one or two 1099R forms?  If you got 2 then enter them each separately and go to the end of the 1099R section before entering the other one.

Level 15
Apr 8, 2024 10:36:40 PM

Turbotax does not allow codes 7 and G on the same 1099-R so you'll need to use 2 - 1099-Rs in Turbotax. Report the RMD from the money purchase pension (boxes 1 and 2) on one form with code 7 and the rollover on the second code G box 1 only

 

 

Level 1
Apr 8, 2024 10:47:11 PM

Thanks.

 

One would think that TT would have fixed that by now.  Then again, they still haven't  fixed foreign taxes withheld on income yet.

 

Level 15
Apr 9, 2024 5:24:49 AM

These are two separate Forms 1099-R that happen to be provided to you on a single page and each one must be entered separately, one Form 1099-R with code 7 and another Form 1099-R with code G.  You are not permitted to combine them into a single form.