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Get your taxes done using TurboTax
Yes, a well-prepared code-H Form 1099-R will have in box 5 the amount of contribution basis that transfers to the Roth IRA. Regardless of what is in box 5, the taxable amount in box 2a of a code H Form 1099-R must be zero, so the rollover will be nontaxable no matter what is in box 5. The amount shown in box 5 documents the amount that would be included on line 22 of Form 8606 should Part III of that form be needed to report a nonqualified Roth IRA distribution now or in the future.
‎February 21, 2024
6:02 AM
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