Documents needed to file 2021 taxes

[melissaforpeace315]

Hi all!  I'm trying to file my 2021 taxes through TurboTax, but would just like some guidance on if I have all the necessary documents to support all my "reportable events" (please correct me if I'm wrong in my terminology).  I just would like to avoid being possibly penalized by the IRS (or receive any type of letter that delays my refund or questions my 2021 taxes). Also, I just want to avoid trouble in general (or regret that I didn't check beforehand to avoid issues in the future).  I've kind of compiled a list of events that occurred to my accounts in the 2021 tax year.  Would you mind reviewing the below list and let me know what I'm missing?  I know that this isn't a place for tax advice (or professional advice) but I just would appreciate if someone could look at the below list and confirm if the documents are exactly what I would need to file my 2021 taxes 🙂 .........(I changed jobs in 2021 so I had to rollover my previous employer's HSA and 401k FYI)

My 2021 reportable tax events (please let me know if any one of them are not considered "reportable" and therefore I don't need to submit/provide documents when I file 2021 taxes through TurboTax):

• Previous employer’s 401k rollover to a Rollover IRA (that I opened through TD Ameritrade)
  • Reportable Event: (Yes?)
  • Documents to show to the IRS: (5498 from Rollover IRA? is that correct? )
• Trustee-to-Trustee transfer from old Beneficiary IRA to new Beneficiary IRA (I simply changed from using Ameriprise to using TD Ameritrade)
  • Reportable Event: (? I have no idea)
  • Documents to show to the IRS: (? I have no idea)
• 2021 distribution taken from my Beneficiary IRA account
  • Reportable Event: (? I have no idea)
  • Documents to show to the IRS: (1099-SA?)
• Rollover of old employer’s HSA to new employer’s HSA
  • Reportable Event: (yes?)
  • Documents to show to the IRS: (1099-SA from the old employer’s HSA , I presume?)
• Contributions made to old employer’s 401k (as well as contributions made to new employer’s 401k):
  • Reportable event: (yes?)
  • Documents to show to the IRS: (5498 I presume?)
• Contributions made to Old employer’s HSA (as well as  contributions made to new employer’s HSA)
  • Reportable event (yes?)
  • Documents to show to the IRS (5498 I presume?)

I really appreciate any help you can provide! Again, I'm not seeking tax advice at all and am just trying to see if I have all the documents that I need before submitting these documents to TurboTax, and just want to do all the stuff the right way the first time because I don't want to be in trouble with the IRS.

Thank you all in advance!  

Kindest regards,

Melissa

[RaifH]

A lot of these events are reportable even though they will not have a tax impact. That is to say, you want to make sure you have the forms and are reporting them correctly, but they should not change the bottom line of the amount you receive as a refund or owe in taxes. 

• Rollovers of retirement accounts should be reported to you on a Form 1099-R from your former administrator. The exact method of reporting will depend on whether it is a direct or indirect rollover, but neither will impact your taxes. This is also the case with the beneficiary IRA. 
• The rollover from your HSA will be reported on a 1099-SA from your old HSA with a distribution code of 1. When asked in TurboTax, you will want to say the amount of this distribution you used for medical expenses if any, and the amount you rolled over into your new HSA.
• Contributions to HSAs and retirement accounts will be reported on Box 12 of your W-2s. HSA contributions are reported with a Code W, and retirement account contributions either with a Code D, E, F, G, H, AA, or BB depending on what kind of plan it is. D should be used for a regular (non-Roth) 401(k). If you had separate contributions to your HSA that you made out-of-pocket, this would be reported on a 5498-SA from your HSA, but you often do not get that form until after filing season because they can include contributions made up to the filing deadline. You can rely on your own records for out-of-pocket contributions. 
• The distribution from the beneficiary IRA will also be reported on Form 1099-R and this one will be taxable. The distribution code in Box 7 should be a 4 and the taxable amount will be indicated if it is different than the amount of the entire distribution.

5498 forms are for your information only and generally not released until after the filing deadline. They are not furnished to the IRS.

[melissaforpeace315]

@RaifH Ah, thank you so much!   Upon reviewing my tax documents, I see that I didn't receive any tax document from my previous Beneficiary IRA account (Ameriprise).  Earlier in 2021, I had completed a trustee-to-trustee transfer from my Beneficiary IRA account (through Ameriprise) to my Beneficiary IRA account (through TD Ameritrade).   Should I have received some sort of document to show to the IRS?  I just want to make sure the IRS doesn't count this as a "distribution" and therefore tax me on the whole, like-kind account transfer. 

I really appreciate any insight you can provide! (I know this isn't a place for tax advice or professional help)

[RaifH]

Yes, even though it is a trustee-to-trustee transfer you should still receive a Form 1099-R for this transaction from Ameriprise. This should have a Code G for the Distribution code indicating a direct rollover. According to Ameriprise, this should be mailed on February 15. The information may be available earlier online.