I received both 1099 R and 1099B

Forum|Forum|1 year ago
March 20, 2025
1 reply
0 views

I moved my 401K into a traditional IRA account. My last job also had stock I earned as an employee. I sold it and signed the check right over to my investment broker who put it in my IRA. I received both a 1099R and a 1099B. When I enter the 1099B, my taxes skyrocket. I can't seem to show that the money from the sale was rolled over to the IRA.

SharonD007

You can't roll over stock sales into an IRA to avoid paying taxes on the stock sales which is why you see your tax liability increase when you entered your 1099-B.

A rollover is when you receive a distribution from a retirement plan and contribute it to another retirement plan within 60 days.

Review the IRS website Rollovers of retirement plan and IRA distributions for more information.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"