Tax-free IRA to 401(k) rollover not reported on 2023 tax return
I’m a CPA and met with a one-time tax consultation client recently who had rolled some money from a traditional IRA to their employer 401(k) in 2023 in a tax-free rollover. We discovered that they did not report this rollover on their 2023 tax return. They had received a 2023 Form 1099-R reporting the rollover, marked code G. Will they receive a matching notice from the IRS on this even though it is tax free…is there any reason to proactively amend their 2023 return to report the tax-free rollover?
Submitted by Cassandra Lenfert on Fri, 2024-11-22 08:41