Is 1099r code 6 taxable to pa?

[themomma54]

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?

[itonewbie · Accepted solution]

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?

[themomma54]

Box 1 31,000 box 2a zero box 5 employee cont 15,000 no other codes

[itonewbie]

Neither is taxable.

[themomma54]

Thank you

[itonewbie]

NP :smile: