topic Roth ira indirect rollove in Retirement tax questions

Roth ira indirect rollove

Charlie1948 — Wed, 26 Mar 2025 20:49:12 GMT

We did traditional IRA indirect rollovers in 2024. I asked where do I show the rollover on our 1040 Sr form. I was advised to show them on line 4a and put $0.00 on 4b. Today's question is we also rolled over Roth iras. Where do I show them on our 1040sr form. Also do I combine them or add them all together. Note we did take our RMD so I would show the taxable amount on 4b. Thanks in advance🆑

Re: Roth ira indirect rollove

MaryK4 — Wed, 26 Mar 2025 21:09:43 GMT

In TurboTax, you enter the 1099-R that you received and answer the follow-up questions. The program will report it in the correct places on the 1040. You enter each 1099-R separately.

Re: Roth ira indirect rollove

Charlie1948 — Thu, 27 Mar 2025 15:34:36 GMT

Hi its Charlie. I left out important info. I'm not using TurboTax, just filling out paper forms.

Re: Roth ira indirect rollove

SusanY1 — Wed, 02 Apr 2025 19:30:22 GMT

Yes, you can combine retirement distribution amounts together for line 4a and show only the taxable RMD on 4b.

However, rollovers are limited to one per person in a 12-month period tax-free.

If the Roth was a trustee-to-trustee transfer, it won't be treated as a rollover. If it was an indirect rollover, it will be subject to these rules and treated as a distribution.

As such, any contribution back to a new Roth IRA (that exceeds earned income) would be considered an "excess" contribution subject to penalties for every year that it remains in the Roth.

If this applies in your case you should remove the Roth amount rolled over by requesting a "return of excess contribution" from the Roth custodian before April 15, 2025.