Walter Wilfong
Mar 27, 2013, 07:01 AM
1099-r box #7 has a distribution code of 2 on one 1099 and 7 on the
Second 1099-
AtlantaTaxExpert
Mar 27, 2013, 08:12 AM
The "7" code means it is a normal distribution, thus taxable but NO Early Withdrawal Penalty.
The "2" code means it is an early distribution but an exception applies which excuses you from tge Early Withdrawal Penalty.