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We found a 1099-R for a rollover 401(k) that wasn't inputted into TurboTax. The taxable amount is $0. Do we need to file an amended return?

Forum|Forum|7 years ago
June 5, 2019
4 replies
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To be clear, our return has been filed and processed. We have received $ from IRS.

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Best answer by MinhT1

Code G means a direct rollover. A direct rollover from a 401(k) to a Traditional IRA is not taxable.

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

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MinhT1

What is the code in box 7 of the form 1099-R? Was it rollover to a Traditional IRA or Roth IRA?

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T

TiredTaxLadyAuthor

A code G

T

TiredTaxLadyAuthor

A regular IRA I think

M

MinhT1Answer

Code G means a direct rollover. A direct rollover from a 401(k) to a Traditional IRA is not taxable.

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

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"