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March 28, 2024
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On 12-20-23 I rolled over my IRA from one bank to another do I report this transfer this year or next year? If this year how do I do it?

  • March 28, 2024
  • 1 reply
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Best answer by dmertz

If this was a distribution and rollover of an IRA, this would have been reported on a 2023 Form 1099-R that is reportable on your 2023 tax return.

 

An IRA can also be moved by trustee-to-trustee transfer where the funds are sent directly to the new IRA without any payment being made to the IRA participant.  A trustee-to-trustee transfer is neither a distribution nor a rollover and is not reportable.

1 reply

dmertzAnswer
Employee
March 28, 2024

If this was a distribution and rollover of an IRA, this would have been reported on a 2023 Form 1099-R that is reportable on your 2023 tax return.

 

An IRA can also be moved by trustee-to-trustee transfer where the funds are sent directly to the new IRA without any payment being made to the IRA participant.  A trustee-to-trustee transfer is neither a distribution nor a rollover and is not reportable.