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Get your taxes done using TurboTax
Assuming both accounts are a traditional IRA, if you do a trustee-to-trustee transfer then no 1099-R will be issued. So even though it's at the same bank, make sure it's a trustee-to-trustee transfer, even though the trustee on the accounts may be the same.
Otherwise, if you don't do that then a 1099-R will be issued for the account you withdraw from. You simply indicate on your tax return that it was a rollover and the amount won't be taxed.
‎August 9, 2022
6:12 AM
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