I consolidated retirement accounts from previous jobs into one Mutual Funds traditional IRA account. Does this count as an IRA contribution?

elysegarlock — Sat, 01 Jun 2019 02:30:53 GMT

no...never. Those are rolled-over accounts..or direct tra...

SteamTrain — Sat, 01 Jun 2019 02:30:55 GMT

no...never.

Those are rolled-over accounts..or direct transfers.

Since the $$ came from other Pension plans, you should be getting 1099-R forms from every company that sent the funds to the IRA account....probably sometime in Early February (assuming they know your current address)

You might have done them as direct transfers.....or perhaps you received the $$ and put them into the IRAs separately...in either case, you need to enter each 1099-R form in the tax software...and answer followup questions for each...indicating the funds were rolled over to anther retirement account (if and when asked by the software).

None of the $$ should show up as taxable on your final tax form..... unless you did not do a direct transfer (code G in box 7), and actually received funds that had taxes withheld, and rolled the $$ over to the IRA...but did not roll over the taxes withheld.

topic I consolidated retirement accounts from previous jobs into one Mutual Funds traditional IRA account. Does this count as an IRA contribution? in Retirement tax questions

I consolidated retirement accounts from previous jobs into one Mutual Funds traditional IRA account. Does this count as an IRA contribution?

no...never. Those are rolled-over accounts..or direct tra...