457b Rollover and 1099-R reporting
When I retired from my govt. service in January 2015, the retirement funds were rolled over to 457b in March 2015 and I received a 1099-R for the entire amount with distribution code G. I rolled over the whole amount (Trustee to Trustee) from the plan administrator of 457b to another qualified plan (Annuity) in October of 2015 and I received a 1099-R for that also with code letter G. Do I have to report both on 1040 line 12a? My concern is, when I report both1099-R, line 12a of 1040A shows the sum of both transactions,which is double the amount of what I have in my retirement funds.
Permalink Submitted by Alan - IRA critic on Mon, 2016-04-18 16:31
You must report them both on 12a, but you will enter “rollover” on the line next to 12b. 12b will not show any taxable amount. Showing “rollover” is the key.