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Got error in turbotax on 1099 R "7b distribution code of 'G' not appropriate based on '7' entered in box 7a". However, that is what is on my 1099 R. Suggestions?

Forum|Forum|7 years ago
June 3, 2019
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TurboTax Deluxe Windows

Best answer by Anita01

That would be a correct error code, since the 7 means it's a regular distribution and would be taxable. The g means it's a nontaxable rollover. Contradictory. So, which did you do, take a distribution or roll over an amount to another eligible plan? The answer depends on what you really did.

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harryfwright1945Author

OK, this was a distribution from a class-action lawsuit. The payers name on the 1099 R is Enron Corp Savings Plan. I rolled this "normal distribution" into my Edward Jones IRA. Does this change your opinion?

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harryfwright1945Author

Also, the 1099 R shows a blank for box 2a, "Taxable amount".

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Anita01Answer

Employee

That would be a correct error code, since the 7 means it's a regular distribution and would be taxable. The g means it's a nontaxable rollover. Contradictory. So, which did you do, take a distribution or roll over an amount to another eligible plan? The answer depends on what you really did.

A

Anita01

Employee

Since you did roll it over( must be done in 60 days) I would leave the 7. After you make the entry, there are questions you will be asked as you Continue. One of the questions will ask what you did with the money and you can choose that you rolled it over there.