Insightful answer! Thank you.
I’m trying to digest. Please allow me to clarify.
I am over 59.5 and retired.
While employed, The first 457(b) contribution date was February 1, 2017.
The 457(b) account was kept with the original custodian.
On March 10, 2022, my 457(b) was directly rolled-over to a Roth Contributory IRA, new custodian.
I understand your answer to say that any holding period time with the original custodian does carry over to the new brokerage firm.
The new custodian says that If I take a distribution from this Roth Contributory account, it will be reported on a 1099R, box 7 coded as “T” (exclusions apply).
I have monthly statement showing the first 457(b) contribution as well as a letter from the original custodian.
May I ask…What are the mechanics to demonstrate to the IRS that the full 5 year holding period has been met?
I have used TurboTax for years but have never faced this situation.
Thank you for your thoughtful insights!
