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1099-R coding for rollover of taxable amount to Roth IRA


Tom

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The 1099-R instructions aren't clear to me for my situation below. for this don't seem clear to me.  Maybe it's simpler than I think it should be. 

We have a client with some employees rolling small DB distributions a Roth IRA.  Code H does not apply since the instructions say that is for Roth source to Roth IRA.  I'm wondering if that is just a G code with boxes 1 and 2 completed with the rollover amount.  am I missing something?

Thank you in advance!

Tom

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7 minutes ago, Tom said:

I'm wondering if that is just a G code with boxes 1 and 2 completed with the rollover amount.

This is correct.

If you're looking for it in the 1099-R instructions, it's under the heading "Qualified rollover contributions as defined in section 408A(e)."

Quote

For a direct rollover of an eligible rollover distribution to a Roth IRA (other than from a designated Roth account), report the total amount rolled over in box 1, the taxable amount in box 2a, and any basis recovery amount in box 5. (See the instructions for Box 5, later.) Use Code G in box 7. If the direct rollover is made on behalf of a nonspouse designated beneficiary, also enter Code 4 in box 7.

 

Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance.

Corey B. Zeller, MSEA, CPC, QPA, QKA
Preferred Pension Planning Corp.
corey@pppc.co

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