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1099-Q QTP to Roth IRA Error

When will the update to support QTP to ROTH IRA be made? Disappointed that this hasn't been resolved by late 

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1 Reply
MarilynG1
Expert Alumni

1099-Q QTP to Roth IRA Error

If the rollover to a Roth IRA was for a beneficiary's account, don't enter the rollover in your tax return, if you are the recipient.  If so, you can check 'trustee to trustee' if you're entering a 1099-Q in your return. 

 

The beneficiary should maintain records of account statements from both the sending institution (e.g., 529 plan) and the receiving Roth IRA custodian

 

They will receive an IRS Form 5498 (IRA Contribution Information), which reports the contribution, and may also receive a Form 1099-R (Distributions) indicating a rollover distribution from the Roth IRA custodian.

 

 

@jul_bun_pan 

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