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Hi TaxGurus,
This is my first question to Tax Statergies Board. So, let me explain the situation:
In 1999, I establised a Rollover IRA with a discount broker. I rollover all the amounts without taking any distributions. So, when I was filing my returns (for 1999 in Y2K), I received 1099-R from my previous employer's 401K administrator. In year 2000 also, I didnot take any distribution. I accrued some interest in my Rollover a/c. But my broker didnot send me an 1099-INT or any other 1099 form.
1. Since I didnot take any distribution, will I get a 1099 form?
2. What about the interest accrued?. How to report that amount?. Will the broker send a 1099-INT ?.
I called up my broker. He replied that, I will not receive any 1099 form as there was no DISTRIBUTION in the year 2000. But basing on my YEar-end statement, I should figure out Interest and report that.
Is this true?.
Please let me know.
Thanks
Mallik
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