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Retirement tax questions
Regardless of the details, a rollover from a 401(k) is always reportable on your tax return, even if nontaxable.
A nontaxable direct rollover from the designated Roth account in the 401(k) to a Roth IRA would be indicated by code H in box 7 of the Form 1099-R. A taxable direct rollover from the traditional account in the 401(k) to a Roth IRA would be reported with code G in box 7 and the taxable amount, usually the entire amount, in box 2a. Only indirect rollovers are subject to the 60-day rollover deadline and would be reported with a different code in box 7 than the codes for direct rollovers.
‎January 15, 2024
4:52 AM
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