1099r question
On line 2a of the 1099r should this amount be zero if a trustee transfer was done from Traditional IRA to Traditional IRA. Thanks
On line 2a of the 1099r should this amount be zero if a trustee transfer was done from Traditional IRA to Traditional IRA. Thanks
Permalink Submitted by Alan - IRA critic on Wed, 2017-03-22 16:09
If the funds are moved by TtoT transfer a 1099R should not be issued. These are non reportable. A 1099R suggests a distribution was made, and if so Box 2a will be the same as Box 1. Recharacterizations are an exception where a 1099R must be issued even though the funds must move by direct transfer. Conversions by transfer also require a 1099R.