in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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A transfer of an IRA incident to divorce is not reportable. Only the distributions you received from your IRA after the transfer are reportable. A Form 1099-R for a regular distribution from an IRA does not report net gains or losses, it only reports the gross amount distributed and is generally the amount includible in income on your tax return. The amount includible in income is also subject to an early-distribution penalty unless an exception applies.
A transfer of an IRA incident to divorce is not reportable. Only the distributions you received from your IRA after the transfer are reportable. A Form 1099-R for a regular distribution from an IRA does not report net gains or losses, it only reports the gross amount distributed and is generally the amount includible in income on your tax return. The amount includible in income is also subject to an early-distribution penalty unless an exception applies.
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