Thanks VolvoGirl and dmertz, I didn't expect so much help so fast.
Thanks for the info on how I managed to originally enter the $200K as a rollover. I was puzzled. And yes it is shown correctly in TT in 1099-R line B2.
What happened was that I was funding an annuity with Athene Annuities, which is held in a traditional IRA with them. Instead of initiating a transfer with Interactive Brokers (another traditional IRA) themselves they had me have IB wire the money directly to them. So IB didn't know that it was a direct IRA transfer, and so they sent me a single 1099 with code 7 containg that $200K lumped in with other standard withdrawals. So when the IRA saw that 1099 they thought the whole amount was taxable.
Which resulted a couple of days ago in my receiving a heart-stopping "Proposed amount due" letter from the IRS for $90K for taxes, interest, and a "substantial tax underpayment penalty". <gulp>
I'm fine now that I know what happened. I just need to give something to the IRS documenting that it was a direct IRA transfer. The plan that's in process right now is that Athene will send IB a letter stating that Athene put the money directly into an IRA, then IB will issue me new 1099s.
Thanks for telling me about the 5498. Athene did send me one but since I didn't enter it into TT (that I recall) I'd forgotten about it. So apparently the IRS knows that my Athene IRA was funded, but doesn't connect IB as the source of the funding.
I have to respond to the IRS letter. I'm sending me the explanation I just gave, plus now I'll send them the 5498 also.
Thanks so much!
