@elatkr36 wrote:
Thanks. So line 5a reports the rollover amount for 2020? And does it matter that the money was not deposited into the rollover accounts until early 2021 - would that affect the rollover amount reported for 2020?
Also, it sounds like I do not need to report anything on my 2021 tax return to indicate that the money was actually rolled over?
Nothing is reported for 2021 by you. If you have a 2020 1099-R for the 401(k) distribution and it was rolled to an IRA that is reported on your 2020 tax return only. The receiving IRA custodian reports it to the IRS with a 5894 form and you get a copy of that form. Nothing else to do.
**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.**
