Question

Will Distribution Code 7B on a 1099R be included as a Roth IRA distribution or a pension and annuity distribution?

Forum|Forum|5 years ago
February 28, 2021
3 replies
0 views

On TurboTax page, Retirement Income Results isn't including the 1099R amount as a Roth IRA distribution.

TurboTax Premier Online

macuser_22

Employee

Neither.

Code 7B is a normal distribution from a Designated Roth employer sponsored retirement plan for employees.

A designated Roth account is a separate account in a 401(k), 403(b) or governmental 457(b) plan that holds designated Roth contributions.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

D

dmertz

Employee

As macuser_22 indicated, your distribution is from the designated Roth account in a qualified retirement plan like a 401(k), not from a Roth IRA.

This distribution will appear of Form 1040 lines 5a and 5b as a pension or annuity. Any Form 1099-R that is not from an a traditional IRA (IRA/SEP/SIMPLE box marked) or a Roth IRA (code J, T or Q in box 7) is reported as pension or annuity income. In this case, the code B indicates that this Roth account is not a Roth IRA.

I

IJW09DSK

What is the answer to the question above.

macuser_22

Employee

@IJW09DSK wrote:

What is the answer to the question above.

The answer is what was said in the original answer to the question.

What are you asking that was not answered?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**