2012 Form 1099-R IRA & QRP Direct Rollover & Rollover Crib Sheet: Solo 401k | Self Directed Solo 401k

October 17, 2014 | By Mark Nolan

Direct-Rollover *Traditional/SEP/SIMPLE IRA* Reporting IRA Direct-Rollover to a Solo 401k 1099-R Issued but not taxable	Rollover *Traditional/SEP/SIMPLE IRA* Reporting IRA Rollover to a Solo 401k 1099-R Issued but not taxable if rolled over within 60 days to Solo 401k	Transfer (Trustee-to-Trustee-Transfer) 401k, 403b, PSP, 457b Reporting 401k, 403b, 457b, TSP to Solo 401k 1099-R Issued but not taxable
BOX 1 Gross distribution	BOX 1 Gross distribution
Reports gross direct rollover amount	Reports total value of all distributions taken for same reason during 2011. Reports all amounts withheld for federal and state income taxes.	Same Reporting as Direct-Rollover (column one of this chart)
BOX 2a Taxable amount	BOX 2a Taxable amount
Zero (-0-) is entered since distribution is payable directly to employer plan such as a Solo 401k	Same amount listed in Box 1 appears here
BOX 2b Taxable amount not determined/TotalDist	BOX 2b Taxable amount not determined/TotalDist
“Taxable amount not determined” should be checked Check box titled “Total distribution” if distribution totally depletes the IRA ,SEP, SIMPLE	” “
BOX 4 Federal income tax withheld	BOX 4 Federal income tax withheld
No amount should be listed	Amount may be listed if you elected tax withholding on IRA distribution form
BOX 7 Distribution code(s)	BOX 7 Distribution code(s)
Code G -direct rollover of a distribution to a qualified plan such as a Solo 401k \| Individual 401k, should be entered	If under age 59 1/2 Code 1-Early distribution If age 59 1/2 or over, Code 7-Normal distribution