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2006 1099R

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3 replies to this topic

#1 blue


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Posted 25 September 2006 - 01:20 PM

The 2006 instructions for form 1099-R states Code B (designated Roth account distribution) can be combined with codes 1, 2, 4, 8, G and L as appropriate. Does that mean if you had a distribution of an account with non-Roth 401(k) money and Roth 401(k) money being rolled to a traditional IRA and Roth IRA you would only need to completed one 1099R?

#2 Leopurrd


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Posted 25 September 2006 - 02:33 PM

I wouldn't think so. I'm thinking that the codes it can be combined with further detail the transaction.
For example, 1B would be a roth distribution in cash before age 59 1/2. Code GB (or BG?) would mean you rolled over the roth into a roth IRA.

In a nutshell, it's like the normal codes, but you add the B if it's from a Roth.

If anyone disagrees, I'm sure they'll post!


#3 Kevin C

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Posted 26 September 2006 - 08:39 AM

Page R-2 of the 2006 instructions says that a separate Form 1099-R must be used to report a distribution from a designated Roth Account.

#4 Leopurrd


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Posted 26 September 2006 - 10:29 AM

Thanks, Kevin!

Blue, I just got an ASPPA ASAP regarding the 2006 instructions for the 1099-R. You may want to read over those for more info. They probably make more sense than my rambling!