DanaB27
Expert Alumni

Retirement tax questions

Thank you for the clarification. If I understand you correctly the traditional IRA with Fidelity was rolled over (transferred) to a traditional IRA with Edward Jones. If this is correct then you do not need to report the gain of $1.31 since this was a rollover. I assume since this was a trustee to trustee transfer you didn't get a Form 1099-R for this rollover. Therefore, you don't have anything to report.

 

In regards to entering the Form 1099-R for return of excess Roth IRA contribution plus earnings, box 1 is $79.45 ($75 plus $.45 gain) and box 2a is $4.45 (gain from Edward Jones).

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