What is the box 7 distribution code for a standard IRA to ROTH …
Mar 3, 2025 · There is not a specific code for conversions. See: All box 7 codes for Form 1099-R. Your 1099-R from the distribution of the traditional IRA funds will say code 2 in box 7 (or code …
On a 1099R what qualifies as an exception for the code 2 ... - Intuit
Jun 7, 2019 · A code 2 *is* an exemption. There is no penalty with a code 2. The payer uses a code 2 under these circumstances: Use Code 2 only if the participant has not reached age …
My 1099-R Box 7 code changed from 2 to 7 when I turned 59+1/2 …
Mar 21, 2025 · However, I turned 59+1/2 eight months into Tax Year 2024, and the Box 7 code changed to "7" for Tax Year 2024, indicating a Normal Distribution. Turbotax now wants to …
What code should be used in for early withdrawal of a 401k due to ...
Jan 29, 2025 · The code 2 in box 7 would be correct if he was under the age of 59 1/2 when the distribution was made. Code 2 —Early distribution, exception applies (under age 59½) This …
Is my 1099-R form correct for backdoor roth contribution?
Feb 9, 2025 · Right now this Form 1099-R with code N indicates you made a Roth IRA contribution instead of making traditional IRA contribution and then converting it because of …
Code 2 is in box 7 of my 1099-R. What does "early distribution ...
Jun 6, 2019 · Code 2 is in box 7 of my 1099-R. What does "early distribution, exception applies" mean in the code explanation? I was 55 when I retired. I thought my retirement was a normal …
What do the letter codes in box 12 of my W-2 mean? - Intuit
5 days ago · The upper-case (capital) letters in box 12 report different things to the IRS. Here's a list of what each one means.
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Re: Efile transmission not going through, error code 2
Feb 1, 2025 · I had this same issue, with e-filing a different state, and after a 90-minute call with TurboTax help desk agent and after numerous troubleshooting steps that didn't resolve the …
Should 1099-r have distribution code 2 if i did a direct rollover …
May 31, 2019 · A direct rollover from a traditional 401 (k) to a Roth IRA should have code G in box 7 and the taxable amount in box 2a. If you had no after-tax contributions in the traditional 401 …
Solved: Turbo Tax's handling of the 1099-SA distribution code 2 …
Jun 6, 2019 · I had an HSA excessive contribution that Turbo Tax caught on my 2016 tax return. So, this year, I got a 1099-SA with a code 1 for my normal distribution amount and I also got a …