Form 1099-R Box 7a

Code G: Direct rollover

The payer transferred funds directly to another qualified plan or traditional IRA.

Usual federal tax treatment

A qualifying direct rollover is generally not taxable. A pre-tax amount rolled to a Roth account is a taxable conversion.

Report the gross amount and the taxable conversion amount, if any; write “Rollover” where required.

Enter Box 1, Box 2a, Box 4, your age, other income, and code G to estimate taxable income and possible additional tax.

Retirement distribution tax, rollover and QCD exclusions, withholding, and possible 10% additional tax

10% pre-59½ + income tax, first-home exception, SEPP 72(t)

Required minimum distributions, age 73 RBD, life-expectancy tables