I have two IRA CDs maturing at a local bank next week (one's a Roth and one is traditional.) I plan on closing the accounts and rolling them over to Fidelity, where I have found that I can get better rates, and am consolidating everything as it matures anyway.
I know that I can just ask for cashier's checks, made out to Fidelity (or even to me), hand them over to Fidelity, and then come tax time just write "rollover" on the appropriate line of the 1040 page 1. That way the IRS knows there was no "distribution" or income generated.
Does anyone know if TurboTax (or other software) makes this this easy -- since its all on-screen, and you can't "write rollover" anywhere. I know I can do a bank-to-bank transfer (no checks), but in my experience that has been a big hassle (not for Fidelity, but for the bank officer.) Appreciate any thoughts.
I know that I can just ask for cashier's checks, made out to Fidelity (or even to me), hand them over to Fidelity, and then come tax time just write "rollover" on the appropriate line of the 1040 page 1. That way the IRS knows there was no "distribution" or income generated.
Does anyone know if TurboTax (or other software) makes this this easy -- since its all on-screen, and you can't "write rollover" anywhere. I know I can do a bank-to-bank transfer (no checks), but in my experience that has been a big hassle (not for Fidelity, but for the bank officer.) Appreciate any thoughts.