@fanfare , @DanaB27 , @ErnieS0 :
Thank you for your responses. Please let me expand on the background:
I took a 401(k) distribution after 59 1/2 in 2022.
The bulk of the amount (amount X) was directly sent to to a traditional IRA, with a balance (amount Y) sent to me in the form of cash. The amount X 'rolled over' into an IRA was not reported in a 1099-R, only the amount Y cash sent to me was reported in a 1099-R.
I received a Form 5498 from the IRA for amount X with a note that I should file an 8606 - although I did not take a real distribution per se. I have read somewhere that I only need to file 8606 when I take a real distribution as Form 5498 is traditionally sent in May, after the tax filing deadline.
I have read the IRS instructions for Form 8606 as well as publications 590-A and 590-B. I am still not 100% sure what I need to do.
Please help!
