dmertz
Level 15

Retirement tax questions

If you converted the IRA annuity to Roth in 2023, the annuity provider is required to have sent you a Form 1099-R because the transaction constitutes a reportable distribution from the traditional IRA annuity.  Only if the original annuity was already a Roth IRA annuity would no reporting be required.

 

If the original annuity was a nonqualified annuity, it's possible that no reporting would be required if the distribution from the old annuity was less than your investment in the contract, but the deposit into a Roth IRA annuity would then be a regular Roth IRA contribution subject to regular Roth IRA contribution limits.