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New Member
posted Apr 3, 2022 7:15:13 PM

I transferred my IRA account to a different financial institution in 2021. There were no distributions with or after the transfer. How

I transfered from one IRA to another institution IRA.  There were no distributions from the new IRA.  How to report?

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2 Replies
Expert Alumni
Apr 3, 2022 7:30:20 PM

Generally, do not report a transfer between trustees or issuers that involves no payment or distribution of funds to the participant, including a trustee-to-trustee transfer from one IRA to another IRA,  If you did not receive a 1099-R, you do not have to report on your tax return.

Level 15
Apr 3, 2022 7:30:28 PM

Did you get a 1099R for it?  What code is in box 7?

Enter a 1099R under

Federal Taxes Tab or Personal (Home & Business)

Wages & Income at the top

 

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

 

There are 4 boxes.  Be sure to pick the right box for the kind of 1099R you got.

 

If you are filing a Joint return be sure to pick which person it is for.

 

Don't enter the bank or broker name and don't try to import it.  It is just as fast and easy to manually enter it.  At the bottom pick -  Change How I enter my Form

Then on the next screen pick I'll Type it in Myself