Question

Having some trouble on 1099 r from how do I know if was aroll over or monies paid out on form very confusing this year

Forum|Forum|5 years ago
February 17, 2021
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TurboTax Deluxe Online

Did you take a distribution from a retirement plan? Box 7 on your 1099-R will have a distribution code which shows what was done and determines the taxability of any funds. Be sure to enter the form in TurboTax exactly as it is. If you rolled over funds from one retirement plan to another, it is reportable, but it should not be a taxable event. A roll over is indicated with a code G in box 7 of the 1099-R.

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