aja8888
Moderator Emeritus
Some of you may recall my wife passed away in late 2022 and I was the sole beneficiary of her Traditional IRA. Well, one option was to transfer the entire IRA directly into my IRA and I did that via filling out a form at Charles Schwab. The IRA was deposited into my IRA on January 5, 2023.
My questions are:
1. Will I have to report this IRA to IRA transfer to the IRS this tax filing year?
2. If so, is Schwab obligated to provide a "document" like a 1099 for me to use to report this transfer?
3. If Schwab is not required to provide me with a paper document, how do I report this transfer (if required)?
I looked through various IRS rulings on inherited IRAs and could not find any guidance on this.
I'm using Turbo Tax this year to make my tax filing.
Thanks for any help you can provide.
My questions are:
1. Will I have to report this IRA to IRA transfer to the IRS this tax filing year?
2. If so, is Schwab obligated to provide a "document" like a 1099 for me to use to report this transfer?
3. If Schwab is not required to provide me with a paper document, how do I report this transfer (if required)?
I looked through various IRS rulings on inherited IRAs and could not find any guidance on this.
I'm using Turbo Tax this year to make my tax filing.
Thanks for any help you can provide.