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mkinderman
Returning Member

Traditional IRA roll-over to trad IRA

I received and entered a 1099-R for a traditional IRA roll-over to another traditional IRA.  When the 1099-R is entered I am only asked "Was this money rolled-over to a Roth IRA", so I answer "No"; then I am asked  "Did I put this money in a HSA" and again I answer "no"; because neither happened. 

I am never asked if I rolled-over the distribution to another "Traditional IRA" thus I am seeing an additional amount of income equal to the IRA distribution. Which should not be.  In my 1099-R Line 7 shows "G" for "Direct Roll-over and Roll-over contribution".

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3 Replies

Traditional IRA roll-over to trad IRA

That is correct.  A code G is always a rollover to a Traditional IRA unless it was rolled into a 401(k) Roth or Roth IRA.   There is no need to ask about a Traditional IRA if it was not rolled into a Roth.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
creed77
New Member

Traditional IRA roll-over to trad IRA

As follow-up, did the roll-over from traditional IRA to another traditional IRA still show up as income?

Traditional IRA roll-over to trad IRA


@creed77 wrote:

As follow-up, did the roll-over from traditional IRA to another traditional IRA still show up as income?


The gross (box 1) amount will show  in the income summary screen.  The 1040 line 4b taxable income should be zero with the word ROLLOVER next to it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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