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Retirement tax questions
Yes. You need to report the Rollover exactly as it was reported to you on the 1099R.
If it was rolled over from a pre-tax account (ie - a regular 401k that is holding "pre-tax" funds) you will owe tax when it is rolled over to a Roth IRA.
Please see the attached FAQ from IRS: Rollovers FAQ
Please note at the bottom of this FAQ: A conversion to a Roth IRA results in taxation of any untaxed amounts in the traditional IRA. The conversion is reported on Form 8606.....
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‎February 2, 2020
2:57 PM