Is this a problem: Rollover via direct transfer done for qual. shares in transfer agent account to IRA, but 5498 has share value in YE $, not in contribution line.

[rpowell0215]

Fidelity says no taxable event and 5498 accurate for what was done.  Voya 1099r has all non taxable.  Voya sent the 401k shares to Computershare account (labeled as IRA) registered to Fidelity FBO my IRA for transfer to Fidelity IRA.  I NEVER took receipt of the shares along the way.  I never got any 1099r or 5498 from Computershare.

[macuser_22]

You never receive a 1099-R from the receiving account, just a 5498 that does not get filed.

The 1099-R from the distribution is reported as a rollover on your tax return.

If there is a code G in box 7 on the 1099-R then that is automatically a rollover.

It will show as income on the summary screen which shows gross income, not taxable income.
 
The income will be reported on line 4a on the 1040 form with the word “ROLLOVER” next to it if it was a rollover.

The taxable amount will go on line 4b.  In the case of a rollover, that amount will be zero.

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

[rpowell0215]

So, if 5498 puts the Share Value in the YE total, but not the Contributiond line, is this no issue? (I guess I am asking is 1099r the governing document vs 5498?)

[macuser_22]

A rollover contribution  is NOT a new contribution - it simply moves money form one account to another.  A new *contribution* is contributing new money from your wages to an IRA.

The 1099-R is what you must report.    The 5498 is just conformation that the rollover was received.  A rollover should be reported on line 2 on the 5498 form.

[rpowell0215]

But since Fidelity moved the shares as a direct transfer from Computershare...the share value was not reflected in the rollover contribution line but in the YE market value line I wondered if this is likely or not to cause an issue..?

[rpowell0215]

Also...the 5498 I have does list the exact #shares involved that were transferred....They are listed in the “portfolio” section of 5498.

[macuser_22]

Whoever was the trustee of the 401(k) account should have but the amount that was rolled over in box 1 on the 1099-R.  That is what you report.