In 2023, I did a full distribution of after-tax funds (contributions + earnings) from my traditional 401(k). The earnings were directly rolled to a traditional IRA, thus a non-taxable event. The contributions were directly rolled to a Roth IRA, also a non-taxable event since those were 401(k) post-tax contributions. The entire transaction was reported on one 1099-R. The combined amount of contributions and earnings was reported in box 1. No taxable amount was reported in box 2a and no boxes are checked in 2b. The after-tax contribution amount rolled to the Roth IRA was reported in box 5. The distribution code is G. IRA/SEP/SIMPLE is not checked. Each transaction (the 401(k) to Roth IRA rollover, and the 401(k) to TIRA rollover) was reported on separate forms 5498. Does the amount in 1099-R box 5 (401(k) after-tax contributions rolled directly to a Roth IRA) need to be reported on form 8606 so that I report the basis? I don’t think it does, but am seeking confirmation.
