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Do I have to show a transfer from one IRA to another iRA?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Deluxe Online

Best answer by macuser_22

Did you receive a 1099-R?

Trustee-to-trustee transfers from one account to another where you never see the money are normally not reportable.

J

jama53Author

NO - I did not receive a 1099-R only an IRS Form 5498 from the new IRA account showing the Fair Market Value. I get a monthly statement from the new account showing activity. And it showed the amount transferred on that statement.

J

jama53Author

So I do not need to worry about adding anything in to my taxes?

macuser_22

Employee

Nothing to report.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

J

jama53Author

Thank you

macuser_22Answer

Employee

Did you receive a 1099-R?

Trustee-to-trustee transfers from one account to another where you never see the money are normally not reportable.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**