Question

1099-R - Where is your distribution from? NY State

Forum|Forum|1 year ago
March 8, 2025
1 reply
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Hi,

Im having a situation with the 1099-R. The system is asking me Where is your distribution from? but not sure what to select. The distribution came from my former employer and I rollover the 401K to my new employer (private sector). But when I selected non of the above my due taxes increased a lot and Im not supposed to pay taxes for that. What can I do? Below are the options the system is giving me.

Thanks!

Where is your distribution from?

Select the source of this distribution and enter any other New York information.

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

Retirement distributions from:

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

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

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

D

DianeW777

It depends. If you rolled the entire amount over to another employer plan and you did receive a 1099-R, indicate it was fully rolled over when you see the screen 'Tell us if you moved the money through a rollover or conversion'. Select 'I rolled over some or all of it into an IRA or other retirement account with in the limits (60 days).' This will remove any penalty if all of the funds were rolled over.

The 1099-R should not have been issued if it went from one plan administrator to another (not through your hands). If your former employer did take federal withholding and you did not replace that with your own funds, then that amount will be taxable and penalized. Do no indicate it was rolled over if this is your senario.

Box 7 currently may have Code 1, which is correct when the plan administrator does not know what you are going to do with the money and you are below retirement age.