Box 7 on Form 1099-R uses alphanumeric codes. Ideally, to tell the IRS if your retirement distribution is: Taxable Subject to a 10% penalty A tax-free rollover Common codes include 7 (Normal), 1 (Early), and G (Direct Rollover). Quick Reference: 1099-R Distribution Code Meanings So you just opened your mail and found a Form 1099-R.…
