On the 1099R block 7, what is code 7.
Code 7 in box 7 on a form 1099-R means “normal distribution” for a retirement account.
Here’s a handy list of codes:
1 Early distribution, no known exception
2 Early distribution, exception applies
5 Prohibited transaction
6 Section 1035 exchange
7 Normal distribution
8 Excess contribution
9 Cost of life insurance protection
A May be eligible for 10-year tax option
D Excess contribution
E Excess annual additions
F Charitable gift annuity
G Direct rollover
J Early distribution from Roth IRA
L Loans treated as deemed distributions
N Recharacterized IRA contribution
P Excess contribution
Q Qualified distribution from a Roth IRA
R Recharacterized IRA contribution
S Early distribution from a SIMPLE IRA in the first two years, no known exception
T Roth IRA distribution, exception applies
For specific information on each of the codes, you can check out the instructions for form 1099-R.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.receive posts by email, follow me on twitter (@taxgirl) hang out with me on Facebook and check out my YouTube channel.