I had 2 accounts with a state retirement system; 457 and 401k. In Feb 2022 I transferred them both directly to separate IRA's with a private broker. The state retirement system withdrew the RMD (age 72.5 this year) prior to the rollover, and withheld the 12% Fed Tax on the RMD.
I received 4 1099-R documents; 1 each for the 457 and 401k RMD and withhold of tax, then 1 each for the Gross Distribution of the 457 and 401k that were transferred directly to the private broker. For each of the Gross Distribution 1099-R for 457 and 401k the "Taxable Amount" shows $00.00 and the Distribution Code is G.
I understand reporting the RMD distributions, and the Fed Tax withheld on my 1040.
Do I also report the 2 1099-R with the rollover amount that went straight to the private broker?? That significantly raises my income numbers for money that went back into Rollover IRA and was not distributed.
