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Retirement tax questions
A rollover is taking a distribution and putting it back into a retirement account within 6o days. If it was a trustee-to-trustee transfer between banks then noting would be reported at all. If you received a 1099-R for the rollover then you would answer the 1099-R questions that the money was rolled over. Nothing whatsoever would be entered in the IRA contribution section because a rollover is not a new contribution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎February 1, 2020
11:23 AM