A form 1099-R gross distribution box 1 has an amount and box 2a has no amount, should box 1 and 2a be the same?
The distribution code is G, there are no federal nor satate taxes withheld. I need an answer,thank you
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A form 1099-R gross distribution box 1 has an amount and box 2a has no amount, should box 1 and 2a be the same?
The distribution code is G, there are no federal nor satate taxes withheld. I need an answer,thank you
Box 2a does not have to agree with Box 1. Box 2a is the taxable amount, if known. If not known, box 2b may be checked. The distribution code of G indicates the distribution was rolled over from one retirement plan to another. This also supports the fact that no entry was made in Box 2a since no taxes should be due on amounts rolled over.
I agree with MLSNC - this appears to be a direct rollover, for example from one IRA plan to another, or from a 401(k) to an IRA. This type of rollover is not taxable, hence nothing to report on your income taxes. Do you recall making such a rollover in 2011?
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