Message Font: Serif | Sans-Serif
No. of Recommendations: 0
My question is twofold and it is for my brother. He is doing his taxes on HD Vest. He was sent 2 - 1099 R forms from the IRS. One of those was from his wife's 403b rollover to a Roth IRA. Another one was from a job switch where he had a 403b with Fidelity, but because he switched school districts, he had to fill out another 403b rollover to his current job still under Fidelity. It says on both the amount of rollover and under box 4 it has no fed taxes withheld. It tells him on those 1099 R forms to report those amounts on his tax forms. So, my question might have been already been answered by me, but he does need to put that somewhere on his return, correct?

As JAFO mentioned, you can't go directly from a retirement plan to a Roth IRA, so I imagine there will be at least one more 1099-R making its way to your brother's house.

Rollovers from retirement plans to traditional IRAs and those rollovers from one plan to another that produce 1099-R's are reported on line 16 of the 1040. You show the gross amount in 16a, zero in 16b, and write "rollover" next to 16b. This is all in the instructions for line 16.

The conversion from traditional to Roth IRA is reported on Form 8606, Part II. The bottom line of that form will direct you to line 15 of the 1040. Check those instructions also.

Phil Marti
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.