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I rolled over my 401(k) into a Rollover IRA using an institution-to-institution direct in-kind transfer in early 2000. I already have a separate traditional (non-deductable, non-Roth) IRA that I have been contributing for several years.

I did my taxes last weekend (using TurboTax) and electronically filed already. When I filed, I didn't think about the rollover, and don't remember TurboTax asking about it. As a result, I only filled out the IRA tax basis form for my contributory IRA, NOT the Rollover IRA.


That's all you report until you begin taking distributions, so there's no problem there.

My questions:
1. How do I "declare" the rollover IRA to the IRS?
2. Do I file an amended return at this point?
3. How bad of a thing is this?


No big whoop. You should have gotten a 1099-R from the 401(k), which you would report on line 16 of the 1040. The instructions for that line tell you how to report the rollover. However, if you don't get a 1099-R, I wouldn't worry about it. I assume you have the rollover paperwork, which you can show the IRS if they ever get curious about where the rest of your traditional IRA balance came from.

TMF ExRO
Phil Marti
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