Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 16, 2021 8:11:22 PM

We transferred our Edward Jones account to an Ameritrade IRA. Where do I put that on our return?

Do I list an IRA on our Federal return if we're not taking distributions yet?

0 2 1086
2 Replies
Expert Alumni
Mar 16, 2021 8:28:27 PM

A broker to broker transfer is not a taxable transaction; however, you should have received a Form 1099-R, which reports the transfer.  If you did not receive the 1099-R, contact Edward Jones to get a copy.  

Level 15
Mar 17, 2021 1:19:09 PM

Trustee-to-trustee transfers of an IRA are not reportable and you should not receive a Form 1099-R or see this reported on a Form 5498.  It is neither a distribution nor a rollover

 

If an IRA is instead moved by a distribution paid to you and subsequently you deposit the money into another IRA within 60 days, this would be a reportable distribution and rollover and you should have received a From 1099-R.

 

If the account at Edward Jones was not an IRA but was instead a qualified retirement plan like a 401(k), these can only be moved by distribution and rollover and you should have received a Form 1099-R that must be reported.