dmertz
Level 15

Retirement tax questions

Since the dollar amount in box 2 of the 2020 Form 5498 reporting the rollover contribution will not agree with the dollar amount actually rolled over, you'll want to include an explanation statement with your 2020 tax return to show that the dollar amount rolled over is the value of the rolled-over shares on the date of the distribution, otherwise the IRS is likely to question the amount reported as rolled over.