DianeW777
Employee Tax Expert

Get your taxes done using TurboTax

No, not for your 1099R because it's no longer an IRA.  In your situation, you should have removed the basis portion of your IRA before rolling it over to the 457b plan.  

 

Potential solution: You should have your Form 8606 that was filed with your return(s) when you were carrying that cost basis.  If so, you could use that form manually to determine the amount of tax free distribution portion that would have been allowed if it was still in your IRA.  If that figure is calculated, you could reduce your 1099R taxable amount by the calculated figure.

 

No guarantee for IRS approval.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"