themomma54
Level 1
12-07-2019
02:39 AM
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1099 r with code 6 for 31,000 with contributions of 15,000 gain of 16,000. is any of this taxable to PA.If so how do I report it?
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itonewbie
Level 15
12-07-2019
02:39 AM
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Code 6 is for nontaxable 1035 exchange but reportable because the contract will be with another trustee or issuer. PA conforms to the IRC and does not require a modification for §1035 exchange.
Is $31,000 reported in Box 1 and $16,000 in Box 2a? If not, in which box are the numbers reported? And are there any other codes on the form besides 6?
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themomma54
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12-07-2019
02:39 AM
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Box 1 31,000 box 2a zero box 5 employee cont 15,000 no other codes
itonewbie
Level 15
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Neither is taxable.
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themomma54
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12-07-2019
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Thank you
itonewbie
Level 15
12-07-2019
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NP :smile:
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Still an AllStar
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