1099r where is this distribution from?

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Hello, I made a partial ROTH conversion of $50,000. I am over 59 1/2. Prior to the conversion, in December of 2020, I completed an IRA rollover, out of a 457 B plan I held thru a former employer, and into a IRA held with Fidelity. I then executed a partial ROTH conversion out of this rollover IRA, establishing a ROTH IRA. Under this circumstance would I select "Current year conversion from a traditional IRA to a ROTH IRA". I see nothing regarding 457B. That account account no longer exists anyway.

DanaB27

Employee Tax Expert

Just to verify you did a rollover from 457B to a traditional IRA and then later a conversion from the traditional IRA to the Roth IRA?

Yes, for the 1099-R regarding the conversion from traditional IRA to Roth IRA you would select "Current year conversion from a traditional IRA to a ROTH IRA"

Did you get a second 1099-R for the rollover from the 457b to the traditional IRA?

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pipeclampAuthor

Level 2

Answer to question 1; that is correctly stated and it was only partial conversion

Answer to Question 2;
I received form 5498 from Fidelity for the rollover from 457b to new IRA. Fidelity was employer’s benefits administrator. So it was internally recategorized by Fidelity direct transfer of all positions held