@manderson3 wrote:
I made a 401k to Roth 401k conversion on December 31, 2019. My provider is refusing to provide a 2019 1099-R, stating that the cutoff for 2019 was December 30. I planned my taxes around the conversion occurring in 2019. Can I claim the income in 2019 without the 1099-R form?
That is the pitfall of waiting to the end of the year. Most (if not all) financial institution specify in the account agreement, that transactions will take 2-3 business days to post. If the transaction date and posting date spans calendar years, then the transaction is deemed to have occurred in the following calendar year.
The account trustee will report this to the IRS as a 2020 transaction and issue a 2020 1099-R in Jan 2021 to go on your 2020 tax return.
Always allow 2-3 business days for the transaction to post when making time dependent transactions. The IRS goes with what is reported by the financial institution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
