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Rollover IRA
Old 02-18-2018, 03:28 PM   #1
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Rollover IRA

We rolled over DW's 401k into a Rollover IRA. Does this need to be noted in 2017 tax forms and, if so, which form? I've forgotten the details on this.
Note: this was a direct transfer into a Traditional IRA.
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Old 02-18-2018, 03:41 PM   #2
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Originally Posted by RobLJ View Post
We rolled over DW's 401k into a Rollover IRA. Does this need to be noted in 2017 tax forms and, if so, which form? I've forgotten the details on this.
Note: this was a direct transfer into a Traditional IRA.
You will get a 1099-R from the 401(k) custodian. Box 7 will have a code of "G" which indicates that it was a rollover. No tax will be due but you will need to report it on your 1040.
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Old 02-18-2018, 04:06 PM   #3
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Thanks for the help. I located the same instructions for Turbotax and downloaded the 1099-R from Fidelity.
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Old 02-18-2018, 04:29 PM   #4
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You will get a 1099-R from the 401(k) custodian. Box 7 will have a code of "G" which indicates that it was a rollover. No tax will be due but you will need to report it on your 1040.
BUT, do not panic! The total amount of the rollover will show up in box 2a. I had the same thing happen when I rolled over my DW's annuity.
Just make sure that Box 7 has a "G"
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Old 02-18-2018, 04:44 PM   #5
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Form 1040, Line 16a you enter the amount of the distribution. In the space between Line 16a and 16b you write the word "Rollover." Line 16b you enter zero. Line 16b's zero is part of your AGI.
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