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Retirement tax questions
Yes, you will need to report it on your tax return, even if it was a trustee to trustee transfer. A trustee-to-trustee transfer of an IRA is a tax-free transaction. Although these type of transfers are not subject to tax withholding, they will be reported to you on Form 1099-R The total amount of the transfer will be in box 1. Box 2a - the taxable should be zero.
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‎January 29, 2020
4:37 PM