1099-R Invalid code in Box 7

[ckcroatt]

My 1099-R has a Box 7 value of "B8" and the IRA/SEP/SIMPLE box is checked:

B – Designated Roth account distribution

8 – Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2019

We pulled back the dollars that were deposited in early 2019 because of income limits.  None of the "distributions" that we got back were taxable - it was just a return of our post-tax contributions.  There is $0 taxable amount and no capital gains.

Turbo Tax is not letting me submit my filing - it keeps saying that I have invalid codes in Box 7, but that is literally what my 1099-R says.  Do I need to contact the payer listed on the form?  Is there a way I can get Turbo Tax to accept these values so I can complete my filing?

[ColeenD3]

Yes, contract the administrator. When did you pull back the funds? If the program were to accept the code, you would be taxed on the income.

@ckcroatt

[ckcroatt]

We pulled back the funds right away - they were supposed to be turned off at the start of the year, but there must have been some miscommunication between the fund and our financial planner because they weren't.  

I did compare our AGI both WITH the 1099-R entered and without - it didn't change, so I don't think Turbo Tax is counting it as taxable income.

[JohnB5677]

You should be able to see it on your 1040. 

• Line 4a is the distribution
• Line 4b is the taxable amount