Looking for guidance on a possible 1099 issue

aja8888

aja8888

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I have a tax advantaged IRA with Vanguard and also opened up a SOLO 401K with them three or four years ago. In 2017, I closed the SOLO 401K account and transferred (rolled) the tax sheltered funds into my Vanguard IRA. This was a direct transfer using Vanguard's forms.

I have not received a 1099 or any other paperwork from Vanguard indicating this "rollover" needs to be reported on my 2017 Federal Tax Return. I understand that under the IRS rules, "rollovers" are to be reported and only one per year is allowed.

The questions I have are as follows:

!. Should VG have iussued me a 1099 for this rollover (internal transfer of sorts?)?

2. If no to the above, should I still report the event?

Thanks!
 
There is no limit to custodian-to-custodian rollovers where you do not get a check made out to you personally.

And you can still get a check, but made out to "Your IRA, FBO You" or something like that which also does not count towards the once-per-year limit.

Anyways, I don't know the answers to your questions, but I will opine that the Vanguard 401(k) folks are probably just slow and you will get a 1099-R at some point. I could easily be wrong about that.
 
Why don't you ask VG about the 1099?
 
If your IRA is in the Vanguard brokerage system (vs the Mutual fund system), they have not yet generated the 1099s for that system. They are expected by mid February according to the website.
 
Yes, I believe you should get a 1099R with code G in box 7 and Total Distribution checked. 1099Rs were due to be mailed by 1/31, so you should check your online portal and see if there's an electronic version there. If not, call Vanguard and ask them.
 
OldShooter said:
Why don't you ask VG about the 1099?
Click to expand...

I did. No answer to my e-mail and no call back from my voice mail message. Hey, it took three weeks, several phone conversations and e-mails to get them to figure out why I could not change my e-mail address on their website when logged into my account. Have a *special* number for me to call?
 
cathy63 said:
Yes, I believe you should get a 1099R with code G in box 7 and Total Distribution checked. 1099Rs were due to be mailed by 1/31, so you should check your online portal and see if there's an electronic version there. If not, call Vanguard and ask them.
Click to expand...

Been through all of this with no successes.
 
kaneohe said:
1) yes, I believe you should get a1099R and that it is reportable (not taxable) https://www.biggerpockets.com/blogs/3441/51500-transfer-self-directed-solo-401k-to-ira-llc

btw your limit on rollovers refer to TIRA to TIRA or Roth to Roth
(IRA to IRA) https://www.irs.gov/retirement-plans/ira-one-rollover-per-year-rule
Click to expand...

Thanks but the first link talks about a "New" IRA making it an LLC which I don't have (used existing) and second link is about the once per year rule.
 
Last edited:
KB said:
If your IRA is in the Vanguard brokerage system (vs the Mutual fund system), they have not yet generated the 1099s for that system. They are expected by mid February according to the website.
Click to expand...

Thanks, that may be the missing link here! where did you see that on the website as I have not seen any references to it?

Thanks.
 
Have you checked in the tax center when you log in online for each account? Any 1099s that have been issued should be there as well.... but it might be that it just hasn't been issued yet.
 
KB said:
If your IRA is in the Vanguard brokerage system (vs the Mutual fund system), they have not yet generated the 1099s for that system. They are expected by mid February according to the website.
Click to expand...

I'm pretty sure that 1099-Rs were due on January 31. Are you maybe thinking of 1099-Bs that don't come out until mid-Feb?
 
pb4uski said:
Have you checked in the tax center when you log in online for each account? Any 1099s that have been issued should be there as well.... but it might be that it just hasn't been issued yet.
Click to expand...

The 1099R should be associated with the 401K account it was rolled from, not the IRA it was rolled to. I wonder if that account is no longer visible online because it was closed when it was emptied? I don't have Vanguard, so I don't know how their portal works with regard to tax docs for closed accounts.
 
pb4uski said:
Have you checked in the tax center when you log in online for each account? Any 1099s that have been issued should be there as well.... but it might be that it just hasn't been issued yet.
Click to expand...

Yes, and I hope as one poster said above, that the 1099 is late in coming for the brokerage accounts.
 
cathy63 said:
The 1099R should be associated with the 401K account it was rolled from, not the IRA it was rolled to. I wonder if that account is no longer visible online because it was closed when it was emptied? I don't have Vanguard, so I don't know how their portal works with regard to tax docs for closed accounts.
Click to expand...

The account is still visible online and show $0's for the funds that were moved.
 
It might not be helpful, but I am still waiting on my Vanguard 1099-DIV for my brokerage account. The online tax help center at Vanguard said it would be sent out by February 15.

I'd also expect the OP to get a 1099-R.
 
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