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I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

 
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I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

Oh you rolled the 401K to a regular IRA first.  Then do not say Roth on that one.  
You then converted the Vanguard regular IRA to the ROTH.

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5 Replies

I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

Why do you have two 1099R?

I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

One is from Fidelity where the 401K was and the amount is nontaxable; the second is from Vanguard where I converted the amount to a Roth IRA

I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

It seems like when I hit yes to both, I'm getting taxed twice on the same distribution

I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

That's correct.  Yes that's what I thought, thank you!!

I converted my 401(k) from one bank to a Roth IRA at another. When asked if I "rolled over the money to a Roth IRA" do I answer Yes for both Form 1099-R's?

Oh you rolled the 401K to a regular IRA first.  Then do not say Roth on that one.  
You then converted the Vanguard regular IRA to the ROTH.

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