elatkr36
Returning Member

Rollover question

Hello,

 

On my form 1040 for 2020, line 5b says "ROLLOVER" but line 5b also says $0. However, I did have money from a 401(k) plan rolled over into two IRAs at another financial entity. I received two 1099-Rs for 2020 for these rollovers, and I reported the 1099-Rs in Turbo Tax for my 2020 tax return. Line 5a reflects the amount that was rolled over, but line 5b says $0. Is my 2020 Form 1040 saying that no money was rolled over? If so, do you know why the rolled-over money is not reflected on the Form 1040? If this helps, to my knowledge, the money was not actually deposited into the IRAs until early January 2021, even though the rollover money came out of the 401(k) in late December 2020.

 

Also, do I need to report anything on my 2021 tax return to indicate that the money was actually rolled over into the IRAs? The financial entity for the IRAs issued two Forms 5498 for me for 2021.