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FredFred0
Returning Member

1099-R Pension to 401K

Former employer terminated the pension plan and placed money in a traditional IRA account. I received a 1099-R. Is this taxable?  

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2 Replies
ErnieS0
Expert Alumni

1099-R Pension to 401K

It is not taxable if all the money went from the pension plan to the traditional IRA. The code in Box 7 on your 1099-R will determine the tax treatment. It is probably listed as a code G rollover contribution.

 

If not, TurboTax will ask what you did with the money. Tell TurboTax you "moved the money to another retirement account (or returned it to the same retirement account)." on the screen What Did You Do With The Money From...

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1099-R Pension to 401K

If you have a (1) Gross Distribution, and then a (2a) Taxable Amount, I assume the Taxable Amount is taxable.
If the 1099-R only shows an amount reflecting its current value, but you are not getting funds distributed to you yet, I would assume its current value is not taxable.  (my opinion)

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