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New Member
posted Feb 21, 2022 8:50:29 AM

I received money into my ira as a rollover from a previous employer due to law suit i did not receive any tax documents. how do i report this?

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1 Replies
Level 15
Feb 21, 2022 8:58:12 AM

Your employer usually can't roll over money into an IRA.  They might put money into a qualified workplace plan like a 401(k), 403(b) or 457(a).  These plans are similar in purpose to IRAs but they are controlled by different sections of the tax code and have different rules.  

 

There are some special arrangements where an employer puts money into a private IRA in your own name after tax, and you take a tax deduction.  But this would usually not be a rollover.

 

We need more details.  Can you explain more what happened?  Why were you paid and what kind of account was it paid into?