Feb 13, 2025 · 1099-R Distribution Codes I converted $125,000 from a traditional IRA directly to a Roth IRA. What should the appropriate distribution code be? My distribution code listed on the 1099-R is …

Mar 3, 2025 · A Form 1099-R for a distribution from a traditional IRA that is converted to Roth will have code 1, 2 or 7 in box 7 depending on your age and how the Roth conversion is performed.

Jun 5, 2019 · The 2020 1099-R Block 7does not have a 2nd drop down block. There is only one block and the 7D is there. On turbo tax 2020, the 2nd line down has different codes. D is for Death. The D …

Jun 7, 2019 · The code (s) in Box 7 of your 1099-R helps identify the type of distribution you received. We use these codes and your answers to some interview questions to determine if your distribution …

Feb 5, 2025 · Code B in box 7 of your 1099-R indicates that you had a Designated Roth Distribution. Review the TurboTax Help article What do all the codes in Box 7 of the 1099-R mean? for more …

Feb 11, 2025 · You should have two Forms 1099-R, one with code 2 that reports a Roth conversion of $28,800 (which you have mentioned having) and a separate Form 1099-R that has $11,200 in boxes …

Jun 6, 2019 · Code 6 is a "Section 1035 tax-free exchange." Section 1035 is a financial transaction in which a life insurance or annuity policy is replaced for a new one without any taxable event …

Jun 3, 2019 · You use code 7 - Normal Distribution in box 7. There is not such code for 7 - Nondisability. That is something that OPM enters on the 1099-R and does not comply with the IRS approved codes …

Mar 28, 2022 · So I withdrew all the contributions and their earnings, however now I've received a 1099-R showing the codes 'PJ'. TurboTax is advising me that I need to file an amendment for the 2020 tax …