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krkjpd
New Member

I had a retirement fund with an old company. My husband talked me into exchanging it to a crypto retirement account. I only rolled it over. Do I have to report anything?

 
3 Replies
Critter-3
Level 15

I had a retirement fund with an old company. My husband talked me into exchanging it to a crypto retirement account. I only rolled it over. Do I have to report anything?

Yes ... you will get a 1099-R in January which must be reported even if it was a direct rollover to another retirement account.  Failure to report it will get you an IRS love letter in a couple of years (with penalty & interest included making it very scary) that you will have to deal with ... so file the form correctly to begin with and enjoy your life. 

rjs
Level 15
Level 15

I had a retirement fund with an old company. My husband talked me into exchanging it to a crypto retirement account. I only rolled it over. Do I have to report anything?

You didn't say when you rolled it over. You report it on your tax return for the year that you did the rollover.


You also have to answer Yes to the question "Did you acquire, sell, exchange, or dispose of any virtual currency?"

 

SweetieJean
Level 15

I had a retirement fund with an old company. My husband talked me into exchanging it to a crypto retirement account. I only rolled it over. Do I have to report anything?

If you received the money first, did you roll it over within 60 days?

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