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1099-R Box 7 or 7a & 7b ?

 

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Subject Author Date
1099-R Box 7 or 7a & 7b ? IPavlov 03-30-2007
Posted by IPavlov on March 30, 2007, 3:18 am
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I rolled over my 401K plan from former employer to
traditional IRA. At the end of the year I received form
1099-R from the trustee of the 401K plan. The type of the
transfer is reported in Box 7 of the form as "G", which I
guess is correct - "direct rollover". There is a small
difficulty with Turbo Tax software I'm using: In on-line
electronic version of 1099-R which Turbo Tax asks to enter
data from paper 1099-R there are two boxes - 7a and 7b.
Should I put "G" from box 7 of the paper form in both 7a and
7b or in 7a only and leave 7b blank?

Your help will be much appreciated.

Thanks,
I.Pavlov

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Posted by bono9763@yahoo.com on March 30, 2007, 10:27 pm
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> I rolled over my 401K plan from former employer to
> traditional IRA. At the end of the year I received form
> 1099-R from the trustee of the 401K plan. The type of the
> transfer is reported in Box 7 of the form as "G", which I
> guess is correct - "direct rollover". There is a small
> difficulty with Turbo Tax software I'm using: In on-line
> electronic version of 1099-R which Turbo Tax asks to enter
> data from paper 1099-R there are two boxes - 7a and 7b.
> Should I put "G" from box 7 of the paper form in both 7a and
> 7b or in 7a only and leave 7b blank?

Just put it in 7a and leave 7b blank

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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