401(k) to Roth IRA rollover (conversion)
Do I need to file an 8606 form? In looking at the instructions for the form it references IRA to Roth conversions but not 401(k).
Thanks for any help with this.
Do I need to file an 8606 form? In looking at the instructions for the form it references IRA to Roth conversions but not 401(k).
Thanks for any help with this.
Permalink Submitted by Alan Spross on Mon, 2012-08-13 23:29
You do NOT need an 8606 to report the qualified Roth rollover. Just report it on lines 16a and 16b of Form 1040.
Your 1099R should show the taxable amount of the rollover, which would be the entire amount unless after tax contributions were included. If you want to recharacterize the roll over for any reason, the funds would have to go to a TIRA account, not back to the plan. Same rules apply here as they would to a conversion recharacterization.