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mtkacz
New Member

I ROLLED OVER ONE IRA TO ANOTHER IRA ACCOUNT SHOULD I RECEIVED A 1099-R

 
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Accepted Solutions
PaulaM
Employee Tax Expert

I ROLLED OVER ONE IRA TO ANOTHER IRA ACCOUNT SHOULD I RECEIVED A 1099-R

You might not receive a Form 1099-R for a trustee-to trustee transfer of IRA funds. If this was your case, then there is nothing to report on your tax return.

You would receive a 1099-R for a rollover if you were moving funds from one type of retirement plan to another or if you made an indirect transfer (took a distribution then deposited funds within 60 days into an IRA).

If you had a rollover, enter the 1099-R form exactly as it is reported in TurboTax. The box 7 codes determine its tax treatment. A rollover transfer should be listed as a Rollover on your tax return on lines 16 a and b. To enter in TurboTax:

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type '1099-r' in the box, then select GO

[edited 3/28/17]

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PaulaM
Employee Tax Expert

I ROLLED OVER ONE IRA TO ANOTHER IRA ACCOUNT SHOULD I RECEIVED A 1099-R

You might not receive a Form 1099-R for a trustee-to trustee transfer of IRA funds. If this was your case, then there is nothing to report on your tax return.

You would receive a 1099-R for a rollover if you were moving funds from one type of retirement plan to another or if you made an indirect transfer (took a distribution then deposited funds within 60 days into an IRA).

If you had a rollover, enter the 1099-R form exactly as it is reported in TurboTax. The box 7 codes determine its tax treatment. A rollover transfer should be listed as a Rollover on your tax return on lines 16 a and b. To enter in TurboTax:

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type '1099-r' in the box, then select GO

[edited 3/28/17]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

dmertz
Level 15

I ROLLED OVER ONE IRA TO ANOTHER IRA ACCOUNT SHOULD I RECEIVED A 1099-R

If the IRA was moved by trustee-to-trustee transfer, it is neither a distribution nor a rollover and would not be reported.
PaulaM
Employee Tax Expert

I ROLLED OVER ONE IRA TO ANOTHER IRA ACCOUNT SHOULD I RECEIVED A 1099-R

@dmertz @mtkacz This is correct. I will edit to reflect.
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