Re: 1099 R

jdouc71 · Feb 8, 2023 11:47:48 AM

<P>I received a 1099 R from a direct rollover on a Roth IRA. Box 1 and box 2 are blank with box 5 have a dollar amount. Distribution code is R. I can’t enter this as box 1 needs an amount . Called investment company which said this is a loss from what I paid vs the current value at the time of the rollover (a loss). Anyone know how to file this? </P>

1099 R

The confusing part is Fidelity put a figure in box 5 that was part of a loss when I did a direct rollover. I’ve never received a 1099 like this and it’s difficult knowing what to do with it.

As long as you enter your 1099-R information into TurboTax exactly how it shows on your 1099-R, the amount in Box 5 will get reported correctly. The IRS likes to keep good record of contributions made to Roth accounts so reporting direct rollovers in Box 5 is common and required to be reported.

@jdouc71