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Retirement tax questions
Yes, you would report the 401K Rollover to Traditional IRA on your 2023 tax return, since it was done in 2023. You are correct that it would be easier to report if the rollover/conversion were reported in the same tax year.
Your 1099-R will have a Code G in Box 7 to indicate the non-taxable rollover.
Here's more info on IRA to Roth Conversions.
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March 3, 2023
10:46 AM