topic Re: 1099 R in Retirement tax questions

1099 R

grossrg1 — Sun, 21 Feb 2021 23:51:02 GMT

I took IRA funds out of Prudential and immediately rolled it over into a Chase IRA fund. On the 1099 R from Prudential, box 2a has the amount listed as taxable amount. How do I show that as an immediate rollover so I do not have to pay tax. I won't receive the 5498 fro Chase until May.

Thanks

Re: 1099 R

DavidD66 — Mon, 22 Feb 2021 00:06:00 GMT

You don't need a 5498 to file your tax return and indicate that you did a rollover of your IRA distribution. After you enter(ed) the 1099-R, there is a page that asks "What Did You Do With The Money From [Retirement Plan]"? See Screen Shot below. Be sure you indicate that you "rolled over all of this money to an IRA or other retirement account (or returned it to the same account)."

Re: 1099 R

grossrg1 — Mon, 22 Feb 2021 18:11:04 GMT

Thanks for helping out. If I went a little further I would have seen it.