I did an indirect transfer of a traditional IRA from one mutual fund co. to another. I asked for no withholdings. The check was sent to me and I signed it over to new mutual fund co. and sent check to new mutual fund co. within a few days. Do I owe taxes on this transaction. I received a 1099-R form from original mutual fund co.
If the entire distribution was rolled over to another IRS within 60 days, there is no tax on the distribution. You must enter the 1099-R on your tax return and in the follow up questions, indicate that it was a rollover.