Yardley CPA Posted March 24, 2019 Report Share Posted March 24, 2019 MFJ client. Spouse reives Form 5498 with a rollover contribution amount of $307.10. Fair market value of $41,259. No other information is provided on the form. I do have a 1099R for the spouse from this brokerage firm for Gross and Taxable distribution of $14,159, but it's one she normally receives. How should I treat the rollover amount, if at all? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 24, 2019 Report Share Posted March 24, 2019 If it was a trustee-to-trustee rollover from same kind to same kind of retirement plan, then you won't see any paperwork at all, most of the time. Ask some questions, such as, was that a traditional IRA going into a traditional IRA?, so you can make sure it was actually rolled over in the timeframe, doesn't need to be taxed (think TIRA to Roth IRA), etc. From where and to where was she moving such a small amount of funds, relative to her FMV and usual distribution amounts, anyway? 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.