gold IRA

[vor17tex]

im considering partial rolling over of my trad iRA to a gold iRA. I intend to distribute the gold in 1 year to avoid storage fees.

Will I get a 1099 then or other form? what value of distribution will be stated?

[SabrinaD2]

For a direct rollover from a traditional IRA to a qualified gold IRA, you should not receive a Form 1099-R, as it is a non-taxable event. However, if you take a distribution from the gold IRA within a year, you will receive a Form 1099-R for that distribution. The form will report the fair market value (FMV) of the gold at the time of distribution.

For more detailed information, you can refer to this resource:

• IRS: About Form 1099-R

[vor17tex]

thank you Sabrina. 

my 1099R will report the FMV in box1? will I also need to file the form 5498?

[dmertz]

"For a direct rollover from a traditional IRA to a qualified gold IRA, you should not receive a Form 1099-R"

This would be a trustee-to-trustee transfer, not a direct rollover.  The term "direct rollover" only refers to the movement of funds to or from an employer plan like a 401(k), not to the movement of funds between IRAs.  A trustee-to-trustee transfer of an IRA is neither a distribution nor a rollover and is nonreportable.