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Level 1
June 5, 2019
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Did a direct roll over to an account in 2016. Can I take deduction now?

  • June 5, 2019
  • 2 replies
  • 22 views
Did a direct roll over to an IRA in 2016, received a 1099 then but never took any deduction. Can I take it now
Best answer by AnnetteB6

No, you cannot take it now. 

First, a direct rollover is not considered a deductible contribution to an IRA (as stated by VolvoGirl). 

Second, if you had made a deductible contribution to the IRA in 2016, then it would have to be reported on your 2016 tax return. 


2 replies

VolvoGirl
Level 15
June 5, 2019
A deduction for what?  A rollover is not a new contribution and is not deductible.  Did you report the 1099R?
AnnetteB6Answer
Level 15
June 5, 2019

No, you cannot take it now. 

First, a direct rollover is not considered a deductible contribution to an IRA (as stated by VolvoGirl). 

Second, if you had made a deductible contribution to the IRA in 2016, then it would have to be reported on your 2016 tax return. 


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