1099R Distribution Code

[Dinosaur]

A terminated participant in a 401(k) plan elected to receive her distribution from the plan (all non-Roth 401(k) pre-tax salary deferrals) as a Roth Conversion Rollover (to her Roth IRA).

I understand that this money will be taxable income for the year so I assume that box 1 and 2 will both be the amount of the distribution.  What would the distribution code be?  I'm thinking a code 1 since it's taxable income but it's a Roth conversion rollover so it's confusing me.  Don't see how it can be code G for a rollover since it's taxable income.  Any thoughts?

 

[ESOP Guy]

I have always understood it as a G.  Code G merely says it is rolled over not that it isn't taxable. 

 

[jevd]

Check IRS.gov for instructions to the 1099-R. The reason codes and explanations are listed there

[Dinosaur]

8 minutes ago, jevd said:

Check IRS.gov for instructions to the 1099-R. The reason codes and explanations are listed there

Thanks, I did review the instructions for the codes but it didn't specifically mention a Roth conversion rollover in them so that is why I posted my question.

[Dinosaur]

12 minutes ago, ESOP Guy said:

I have always understood it as a G.  Code G merely says it is rolled over not that it isn't taxable. 

 

That's a good point.  I wonder if other people agree.

[Lou S.]

Last time we did one Gross amount and Taxable amount were the same and Box 7 Code was G.

[RatherBeGolfing]

Yep, code G is correct.

And for extra credit, if you are reporting both a conversion and non-conversion rollover (Code G for both), you report them on separate Form 1099-R's. 

[Dinosaur]

Thanks everyone.