Ask Experts Questions for FREE Help !
Ask
    pilot's Avatar
    pilot Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 2, 2007, 05:07 AM
    Form 1099R
    A husband has a IRA and the wife is the beneficiary and she has her own IRA, the husband dies and the wife requests that the proceeds from the husbands IRA be moved to her IRA, this would be considered a rollover. What would the tax code be for box 7 on IRS Form 1099R? The instructions for Form 1099R has tax code 4 for death and G for rollover. Would the correct tax code be 4G if so please explain?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 5, 2007, 01:12 PM
    Use Code G for rollover.

    Code 4 is used if there is a distribution.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

1099R - 2006 - how to file [ 3 Answers ]

I received a 2006 1099R for excess contribution to a 401K plan in 2005. Do I need to amend my 2005 tax returns to reflect the payout? Or should this be included on my 2006 return? I will be getting a similar payout this year for 2006 contributions. Is there a way I can include this amount...

Box 7 on 1099R [ 1 Answers ]

One of my 1099R has a "G" in box 7 for the rollover. The software I use will onl;y acept Numeric numbers in Box 7. Have I used the wrong form? Thanks Jim

Can you file more than one w2 form on one nys tax form or do you need additional forms? [ 1 Answers ]

We live in nys and my friend has had 3 different jobs throughout the year. Does he file all w2's on one form or have a form for each?

1099R on divorce settlement [ 2 Answers ]

A friend of mine received half of her husband's 401k in a lump sum divorce settlement. I know this is not supposed to be included in gross income and shouldn't be taxed. SHe received a 1099R with gross amount and taxable amunt the same and federal taxes withheld. She is panicing about how to...

View more questions Search