Beemer Posted January 13, 2014 Posted January 13, 2014 The instructions for the 1099r say that the taxable amount should be entered in box 2a, but to enter code "G" in box 7. Is that correct to do so rather than using code "1" or "7"?
masteff Posted January 13, 2014 Posted January 13, 2014 Yes. A few codes get used together in Box 7, but in this circumstance "G" is used in place of "1" or "7". Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
Beemer Posted January 13, 2014 Author Posted January 13, 2014 That doesn't seem logical, but then these are IRS instructions.
Beemer Posted January 13, 2014 Author Posted January 13, 2014 If a participant's account in a 401(k) plan was in a variable annuity, and they elected upon termination to keep their account with the same insurance company but rollover to a Roth IRA, and that is code "G", does the amount of the distribution go in box 8? Then do you leave 2a blank, and how does the participant determine how much is taxable?
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