On 1099-R form "Did you roll over this distribution to a Roth IRA?" What if yes and no?

MelbaUSA
MelbaUSA Member Posts: 4 Newcomer
in Income

Hi. On one of my 1099-R forms, it encompasses three distinct events: two distributions from a regular 403b to a rollover IRA ($17K and $224K), and one distribution ($150K) from the regular 403b to a Roth IRA.

The last question on the pages asks: "Did you roll over this distribution to a Roth IRA?" It does not let me distinguish the specific amount.

How shall I answer that question? (The "Gross distribution in Box 1 is $401K, but only a portion of that went to the Roth IRA.)

Thank you!

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Answers

  • JMSSGV
    JMSSGV Member Posts: 243

    You answer 'yes.' Later on you will identify how much was rolled over.

  • MelbaUSA
    MelbaUSA Member Posts: 4 Newcomer

    Thanks! Each event happened on a different date, but it only has one box for "date" (Box 13, optional). I would like to include the date of the Roth Conversion (in 12/9/2024) because I want to ask for a waiver of a late penalty on not paying quarterly estimated taxes sooner.

    Any advice on if I should enter a date in Box 13 ("Date of payment"), if there were really three different dates (in Oct. and Nov. (Rollovers); and Dec. (Roth Conversion)? Thanks!

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