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aravind966
February 27, 2024
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Should I amend my 2022 returns, forgot to report 1099R with code G, but no impact on taxable income? The distribution amount was less than 2k.

  • February 27, 2024
  • 1 reply
  • 0 views
Do i have to file a 1040x amendment for this? or can i combine the amount in the 2023 returns. eg. 2k +10K - 12K in 2023. Note: both years no impact on taxable income.
Best answer by MinhT1

You cannot report the 2022 rollover in 2023. On your 2023 tax return, report your rollover by entering your 1099-R for completeness.

 

For 2022, an amendment is not necessary. Code G in box 7 of form 1099-R is for a direct rollover which is not taxable.

The IRS has a copy of your form 2022 1099-R but will know from code G in box 7 that it is not taxable. You do not need to amend your tax return. Just keep that form 1099-R in your tax records for at least 3 years.

1 reply

M
MinhT1Answer
February 27, 2024

You cannot report the 2022 rollover in 2023. On your 2023 tax return, report your rollover by entering your 1099-R for completeness.

 

For 2022, an amendment is not necessary. Code G in box 7 of form 1099-R is for a direct rollover which is not taxable.

The IRS has a copy of your form 2022 1099-R but will know from code G in box 7 that it is not taxable. You do not need to amend your tax return. Just keep that form 1099-R in your tax records for at least 3 years.

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