At my previous job I had two retirements. When I left, each was sent to me in my name and I rolled them over into a traditional IRA within the required 60 days. My question is, do I have to fill out some form to report this?
2007-03-16 11:23:08 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
Depending on how the rollover was done, you will probably receive a 1099-R for one or both rollovers. If you do, you need to report them on your 1040 form. On line 16a you'd show the total amount rolled over as a pension distribution, then on line 16b, show zero of that as taxable - write "rolloever" next to the zero..
2007-03-16 11:36:14 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
You would put the gross distribution amount on Form 1040, line 16a, and 0 on line 16b. Write "rollover" next to this.
If you made any non-deductible contributions to your IRA for 2006 you would need to file Form 8606 with your tax return.
http://www.irs.gov/pub/irs-pdf/f8606.pdf
2007-03-16 18:40:25 · answer #2 · answered by tma 6 · 0⤊ 0⤋