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Posted by Paul Thomas, CPA on February 12, 2008, 3:22 pm
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> Last year I switched jobs. I moved my 401K from the old company to the
> new one. This was a rollover transaction with a check issued in the
> name of the new company.
> I received a 1099R from my old company listing the amount as a
> distribution. I called them to find out if there was a tax liability.
> They said that this was only sent for the record and that there was
> none.
>
> Just to confirm, there should be no tax liability, correct?
> Thanks
Look at box #7 - which should be coded with a "G".
If so, then it's not taxable, although you should enter it in the program in
that manner.
If there is another distributions code, then yell loudly, because all the
IRS knows is what the company told them.
"G" means a direct rollover.
--
Paul A. Thomas, CPA
Athens, Georgia
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