So, first post here, forgive my ignorance. I've read up on searched threads but am still a bit fuzzy about specific 1099-R reporting. I have a solo 401K with ETrade and did an in plan roth conversion, 401K to roth 401K. I expect the full balance to be taxable, long story but I have a huge tax loss this year that will shield any tax due from conversion. Lucky maybe...
ETrade generated the 1099 as custodian. I was thinking that my 401K plan would be the payer and the recipient but not so, ETrade is payer and the 401K plan is recipient. Also box 1 has the full amount of conversion, box 2a is $0 and box 2b is unchecked. Is that correct? I thought 2a would have the full value of conversion as taxable or at least then 2b would be checked? They did correctly use code G in box 7.
They also used my personal social security # for recipients TIN and not the 401K plan TIN. Is that correct?
Thanks for any insight.
ETrade generated the 1099 as custodian. I was thinking that my 401K plan would be the payer and the recipient but not so, ETrade is payer and the 401K plan is recipient. Also box 1 has the full amount of conversion, box 2a is $0 and box 2b is unchecked. Is that correct? I thought 2a would have the full value of conversion as taxable or at least then 2b would be checked? They did correctly use code G in box 7.
They also used my personal social security # for recipients TIN and not the 401K plan TIN. Is that correct?
Thanks for any insight.
