Taxpayer asks:
On the 1099R block 7, what is code 7.
Taxgirl says:
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
3 Disability
4 Death
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 [...]
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