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April 7, 2025
Question

1099 -r

  • April 7, 2025
  • 1 reply
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I received my 1099-r and it shows income in line 1 and taxable income in line 2 and distribution code is a G. It is taxable income but when I put G in for the distribution code it does not add it to my income. Am i doing something wrong?

    1 reply

    April 7, 2025

    Code G means that the distribution is a Direct rollover of a distribution to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA.

     

    Unless it is a rollover to a Roth IRA account in which case it is taxable, this rollover is generally non taxable.

     

    Verify that this is the case.

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