I rolled over my IRAs (Both roll over and Roth) twice during the year - from Schwab to Vanguard, then from Vanguard to Fidelity. Should I have received a 1099-r or another form that I can report that the money wasn't just taken out but was transferred to a new institution - or does the IRS just know this? None of the institutions had any type of form like this in their "Tax" statements.
A trustee-to-trustee transfer of an IRA where the funds are never made payable to you and they never come under your control is neither a distribution nor a rollover and is not reportable. Moved this way, you should not receive any Form 1099-R reporting a distribution or any Form 5498 reporting receipt of a rollover. The IRS doesn't care anything about a trustee-to-trustee transfer.
Yes, normally you will receive a 1099-R with an amount in box 1 for Gross distribution and box 2a Taxable amount as 00.00.
The rollover transaction isn't taxable, unless the rollover is to a Roth IRA, but the IRS requires that account owners report this on their federal tax return. In IRA-to-IRA transfers, the trustee from one plan sends the rollover amount to the trustee from the other plan.
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Do I Need to Report the Transfer or Rollover of an IRA or ...
How did you do the rollovers? Was it a direct transfer or did you get a check? Did they take any withholding out? I can't tell if you got a 1099R or not. If you did what is the code in box 7?
If you got a 1099R it should show up on 1040 line 4a and 0 on 4b with the word ROLLOVER by it. You might eventually get a form 5498 from the receiving account to show they got it but that is not entered on your return.
A trustee-to-trustee transfer of an IRA where the funds are never made payable to you and they never come under your control is neither a distribution nor a rollover and is not reportable. Moved this way, you should not receive any Form 1099-R reporting a distribution or any Form 5498 reporting receipt of a rollover. The IRS doesn't care anything about a trustee-to-trustee transfer.
How do I report a direct IRA rollover from one institution to another. I have the full amount reported on Form 5498 from original institution but see no way to report this on 1040.
Did you get a 1099R from the first IRA? You might not need to repot a direct rollover. You don't need to enter the 5498, that is only for your info. You only enter the 1099R. If you got one it should have Code G in box 7 for direct rollover. That is all you need to enter.