Question

Rolling over 401k to a traditional, then converting to a Roth IRA

Forum|Forum|4 years ago
February 22, 2022
1 reply
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Hi, my 401k from Nationwide was rolled over to a traditional IRA. That traditional amount was then converted to a ROTH IRA.

Would my 1099-R amount from the Nationwide 401k be considered a rollover to my ROTH IRA because I eventually did put it all in there after going through the traditional? Or would it just be considered a rollover to traditional only?

D

dmertz

Employee

You said that the rollover from Nationwide was to a traditional IRA, so that's was it was, not a conversion to Roth. The conversion from the traditional IRA to Roth was a separate transaction for which you should have received a separate Form 1099-R. Both Forms 1099-R need to be entered.

(Although it was permissible to have rolled the traditional 401(k) directly to a Roth IRA as a taxable rollover, that's not what you did.)