Indirect Rollover

2 replies
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What forms are used for an indirect IRA rollover for my 1040 and for my New York City and State Taxes?

JBedford

Level 6

Hi, @Josephine1625 , thanks for the question! Since you are withdrawing money from a retirement account, even though you are rolling it over into another account, you will receive a 1099-R form for the distribution. This is reported on line 4 of your Form 1040. Since this should not be a taxable distribution, it need not be reported on your NY IT-201 at all. TurboTax will walk you through all of this when you enter in the 1099-R form, you will be asked if this distribution was rolled over into another account. Hope this helps!

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Hal_Al

Level 15

Q. What forms are used for an indirect IRA rollover for my 1040?

A. There is no additional form to show that. On the dotted line, to the left of line 4b of form 1040, you write the word Rollover. If you use TurboTax (TT), as described by JBedford, TT will make that entry on the dotted line.