RayW7
Expert Alumni

Retirement tax questions

Yes, normally you will receive a 1099-R with an amount in  box 1 for Gross distribution and box 2a Taxable amount as 00.00.

 

The rollover transaction isn't taxable, unless the rollover is to a Roth IRA, but the IRS requires that account owners report this on their federal tax return. In IRA-to-IRA transfers, the trustee from one plan sends the rollover amount to the trustee from the other plan.

 

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Do I Need to Report the Transfer or Rollover of an IRA or ...