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New Member
posted Apr 13, 2024 6:16:39 PM

IRA conversion to Roth IRA not reported in 1099R

I submitted an IRA conversion to Roth IRA on 12/30/23, but this was not processed by the brokerage company until the next business day which was 1/2/24.  The transaction was not reported in 2023 1099R.  Can I still report this in 2023 tax return?  And include an explanation in my tax filing?!  

 

I feel like customers are at the mercy of the varying processing time of the institutions.  

0 2 6953
2 Replies
Level 15
Apr 13, 2024 6:40:33 PM

you are definitely at their mercy if you submit forms on the last possible day.

You did a conversion in 2024 so report it on your 2024 tax return.

 

@jc169 

New Member
Apr 13, 2024 7:26:44 PM

Not happy about the timing.  Husband was out of work the entire year and finally found a job towards the end of the year and so decided to take advantage of the misfortunate.    I submitted the request very late in 2023, but I also think that the institution should at least be clear about their processing time.  If I were putting money to purchase an IRA on 4/15, no matter what day it lands, I am quite sure it will be counted.  These two types of transactions are not treated equally.